FY24: D-Street minnows steal show, gives hefty returns to investors
The BSE mid-cap gauge jumped 15,013.95 points or 62.38 per cent in the 2023-24 fiscal, while the small-cap index climbed 16,068.99 points or 59.60 per cent.
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NEW DELHI: The BSE mid-cap and small-cap stocks have outperformed the benchmark Sensex in 2023-24 with about 62 per cent returns, reflecting buoyant investors’ sentiment amid robust macroeconomic conditions in the country and impressive quarterly earnings reported by various firms.
As per an analysis, the BSE mid-cap gauge jumped 15,013.95 points or 62.38 per cent in the 2023-24 fiscal, while the small-cap index climbed 16,068.99 points or 59.60 per cent. In comparison, the 30-share BSE Sensex raked in a gain of 14,659.83 points or 24.85 per cent during the fiscal under review.
“The recent surge in interest towards mid and small-cap stocks among retail investors can be attributed to their remarkable earnings growth and the pursuit of high-growth opportunities. Highlighting this trend, investors have shown a clear preference for mid and small-cap schemes over large-cap ones, as evidenced by the net inflows in equity mutual funds. The broader market put up an impressive performance in the 2023-24 fiscal. The BSE midcap gauge reached its record peak of 40,282.49 on February 8 after slipping to its 52-week low of 23,881.79 on March 31, 2023. The BSE Sensex hit all-time high of 74,245.17 on March 7 this year.
