After a choppy start to the year, the NSE’s Nifty 50 index ended the first half of calendar 2025 with gains of almost 8 per cent. The broader market Nifty Smallcap 100 and the Nifty Midcap indices ended with modest gains of 1.8 per cent and 4.4 per cent, respectively. Market performance was initially hampered by US trade tensions, escalating geopolitical risks, and an uncertain global growth outlook, with the Nifty 50 dropping as much as 8 per cent by April. A strong recovery followed, driven by the Reserve Bank of India's monetary easing, a weaker US dollar,

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