Small- & mid-caps outperform Nifty in 2023
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New Delhi: Mid and small caps outperformed largecaps and have risen 36 per cent and 46 per cent, respectively, versus the 11 per cent rise for the Nifty in calendar year 2023, as per a report by Motilal Oswal Financial Services. Midcaps/Smallcaps outperformed largecaps by 4.9 per cent/6.5 per cent in Nov’23.
The Nifty, after consolidating in Oct’23, bounced back in Nov’23 with a 5.5 per cent MoM gains. Notably, the index was extremely volatile and swung around 1,185 points before closing 1,054 points higher. The Nifty is up 11.2 per cent in CY23YTD, the report said.
The global and domestic markets made a smart comeback as investors remained convinced that the US Federal Reserve was done with its rate-hike cycle, coupled with strong institution flows FIIs turned buyers of $2.3b in Nov’23 after remaining net sellers for two months. DIIs recorded inflows of $1.7b in Nov’23 after $3.4b of inflows in Oct’23.
