New Delhi. Shares of medium and small companies listed in the mid-cap and small-cap indices of Bombay Stock Exchange (BSE) have given returns of about 62 percent in 2023-24. Mid-cap and small-cap stocks have performed better than the Sensex. This reflects the enthusiastic sentiment of investors amid strong macro economic conditions in the country and good quarterly results of various companies.
According to an analysis, the BSE mid-cap index jumped 15,013.95 points or 62.38 per cent in FY 2023-24, while the small-cap rose 16,068.99 points or 59.60 per cent. In comparison, the 30-share BSE Sensex gained 14,659.83 points or 24.85 percent in the current financial year.
PressNews24 provides latest news, bollywood news, breaking news hollywood, top tech news, business standard news, indian economy news, world economy news, travel news, mumbai news, latest news mumbai loksabha election 2024, video viral news, delhi news, Only at PressNews24.in
Also read- After banks, LIC offices will also remain open on March 30-31, know what will be the office timings.
Suman Banerjee, CIO at hedge fund Hedonova, said, “This change in investor sentiment has been driven by strong macroeconomic conditions in India, which traditionally promote a quick rise in shares of smaller companies during periods of economic expansion. ''
BSE small-cap index reached all-time high on February 7
The market performed impressively in the financial year 2023-24. After slipping to its 52-week low of 23,881.79 points on March 31, 2023, the BSE Midcap index hit its lowest level of 40,282.49 on February 8. The BSE small-cap index hit its all-time high of 46,821.39 on February 7, while it had hit a 52-week low of 26,692.09 on March 31 last year. The 30-share Sensex of BSE had reached its all-time high of 74,245.17 points on March 7 this year.
Better performance of small company shares
Sunil Nyati, MD, Swastika Investmart Ltd, said, “The outperformance of small company stocks compared to the Sensex in the current financial year reflects the dynamic nature of the Indian domestic market and the diverse opportunities it offers to investors.”
Also read- Save Income Tax: Save tax of Rs 7 lakh in these 6 ways, know the mantra of saving before filing RTI.
Shares of small companies are bought by local investors
According to market analysts, shares of small companies are usually bought by local investors, while foreign investors focus on the shares of big companies.
Sensex had risen by 0.72 percent in the financial year 2022-23.
In the financial year 2022-23, BSE Sensex had risen by 423.01 points or 0.72 percent. However, the BSE small-cap index fell 1,258.64 points or 4.46 per cent, while the mid-cap index declined marginally by 42.38 points or 0.17 per cent.
.
Tags: Share market, Stock market
FIRST PUBLISHED : March 29, 2024, 6:46 PM IST