The Association of Mutual Funds in India (Amfi) also directed fund houses to provide investors with additional disclosures on the risk of small and midcap funds
Nifty Smallcap 100 index finished FY24 with a gain of nearly 70 per cent, outperforming the benchmark Nifty by 41 percentage points
Benchmark equity indices Sensex and Nifty rallied for the second straight session on Thursday to end the 2023-24 fiscal on a bullish note, powered by across-the-board buying amid a bullish trend in global equities. Power, auto and metal stocks witnessed robust demand, even as a depreciating rupee weighed on sentiment, traders said. Extending its previous day's rally, the 30-share index jumped 655.04 points or 0.90 per cent to settle at 73,651.35. During the day, it zoomed 1,194 points or 1.63 per cent to 74,190.31. The NSE Nifty climbed 203.25 points or 0.92 per cent to end at 22,326.90. On a weekly basis, the BSE benchmark climbed 819.41 points or 1.12 per cent, and the NSE Nifty advanced 230.15 points or 1.04 per cent. In the 2023-24 financial year, Sensex jumped 14,659.83 points or 24.85 per cent, while the Nifty soared 4,967.15 points or 28.61 per cent. "Indian equities closed the day and fiscal year on an optimistic note, with volatility by the end of the session, as buying
Amid the turmoil in the smallcap space, ISec believes stocks with high earnings yield and price/earnings-to-growth (PEG) ratio would offer better margin of safety
Their costs and expense ratios are typically lower compared to actively managed funds
For Nifty, traders are advised to be cautious and consider selling on rallies or on a close below 21800, taking into account the indications from various technical indicators
Bulls say the blowout returns in smaller companies stem from robust corporate profit growth in recent years
The Nifty midcap 100 rose 2 per cent, while the Nifty Smallcap 100 gained 3.5 per cent. Both indicies had plunged about 5 per cent each a day earlier in what was their worst performance in two years
Market wrap on March 14, 2024: Beaten down BSE PSU and CPSE indices surged up to 3 per cent led by gains in rail stocks; Adani Group shares surged up to 11%
Nifty 500, India's broadest index, outperformed most of the world's leading indices except the Nasdaq 100 over the last 10 years, according to the study by Motilal Oswal Asset Management Co.
The long-term trend may suggest a reversal if Nifty50 falls below 20,000
Among sectoral indices, IT fell by 1.61 per cent, FMCG dipped 1.02 per cent, technology by 0.89 per cent, capital goods by 0.37 per cent and consumer durables by 0.36 per cent
Investors are encouraged to focus on profit booking opportunities, considering potential re-entry points at the specified support levels, says Ravi Nathani
Overseas funds seen favouring less expensive Korea, Taiwan markets
Investors' wealth eroded by Rs 6 lakh crore in a single day on Wednesday as the BSE benchmark Sensex tumbled over 790 points. The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it slumped 872.93 points or 1.19 per cent to 72,222.29. The market capitalisation (mcap) of BSE-listed companies eroded by Rs 6,02,338.56 crore to Rs 3,85,97,298.49 crore (USD 4.71 trillion). "Investors resorted to heavy selling ahead of Thursday's F&O expiry. Weak Asian market cues and Dow Futures indicating a negative start also led to a massive round of profit-taking across the board as benchmark Sensex closed below the crucial 73k mark. "The pessimism can also be attributed to lack of direction ahead of Thursday's release of the January US Personal Consumption and Expenditures (PCE) index, the Fed's preferred measure of inflation that tracks consumer spending," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. Among the Sensex firms, ...
Lays more emphasis on 'free-float' mcap as selection criteria for small and midcap index
In the latest bi-monthly policy review held earlier this month, the Reserve Bank of India's six-member panel decided to leave the key policy rate unchanged at 6.5 per cent for the sixth time in a row
Stock market highlights on February 23, 2024: Asian Paints, Maruti Suzuki, HCL Tech, NTPC, SBI, TCS, JSW Steel, IndusInd Bank, Bharti Airtel, ITC, Axis Bank, and TCS were the top laggards
Benchmark indices swing over 1.6% in intraday trade
Stock market highlights on February 21, 2024: In the broader markets, the BSE MidCap index fell 1.27 per cent, while the BSE SmallCap index declined 0.84 per cent