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After 2 straight months of underperformance, the midcap and smallcap indices massively outperformed the benchmark Nifty in the month of April. The Nifty Midcap index jumped 5.8% while the Nifty Smallcap index surged 11.4% in the previous month. In comparison, the benchmark Nifty was up 1.24%.
While most experts expect the positive sentiment to continue in May with hopes of the Indian bourses hitting new highs, however, some experts also see some correction in the near term as elections are likely to bring some volatility in the markets.
FIIs taking hedged positions amid expectations of high volatility due to general elections and Q4 earnings.
Mint’s analysis reveals a net decline in promoter pledges across sectors including energy, infrastructure, IT, pharmaceutical, and retail.Jindal Stainless, Jindal Steel, Adani Power, Vedanta, Suzlon Energy, and Tata Motors witnessed significant decreases in pledged holdings in FY24
LIC cuts stakes in 16 PSUs, profit booking seen. Portfolio value surges to Rs 14 lakh crore in 2024, up by Rs 1.6 lakh crore. Market cap of PSU stocks rises to Rs 67 lakh crore.