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Nifty Smallcap index retreated from a 15-year resistance trend line drawn adjoining 2007-21 high, indicating profi t booking after a 50% rally seen during March-October 2023 amid overbought conditions.
Get latest articles and stories on Business at LatestLY. In a notable trend, the SPIVA Scorecard revealed that a significant portion of Indian Equity Large-Cap funds struggled to outperform their benchmarks, with a staggering 58 per cent of actively managed funds falling short of the S&P Bombay Stock Exchange (BSE) 100 benchmark. Business News | Active Funds Face Mixed Performance; Dow Jones Indices Publishes SPIVA India Scorecard 2023.
There will be no trading in equities, equity derivatives, interest rate derivatives, and currency derivatives, while securities lending and borrowing will also not take place on Tuesday.
The performance of mid- and small-cap funds stand out in the SPIVA India Scorecard, especially over the short and medium term.
And I think a lot of the smaller companies will, if they have a good business model, good management team, if they are on the right side of tech disruption or if they are part of a global theme.