Nifty, Sensex At Record High: Will Broader Markets Catch Up?
Broader markets are still below their all-time high.
The broader markets have lagged even as the benchmark indices are scaling new highs.
The Nifty is up about 1% from its previous high. By comparison, while Nifty Midcap 100 index has fallen 1.5%, the Nifty Smallcap 100 gauge is down 13.2%. Even the BSE mid-cap and small-cap indices are down 2.6% and 0.4%, respectively.
Nifty small-cap 100 is about 21% away from its all-time high of 12,047.45 it hit on Jan. 18, 2022, whereas Nifty mid-cap 100 is about 4.8% away from the record of 33,243.50 it breached on Oct. 19, 2021.
Stocks like Zensar Technologies Ltd., Lux Industries Ltd., Quess Corp Ltd., Mastek Ltd., Amber Enterprises India Ltd., and Welspun India Ltd. have contributed to losses on Nifty small-cap index.
Future Retail Ltd., Future Lifestyle Fashion Ltd., Future Consumer Ltd., Gayatri Projects Ltd., and Sadbhav Engineering Ltd. are the top losers on BSE Smallcap.
PB Fintech Ltd., Gland Pharma Ltd., Godrej Properties Ltd., Mphasis Ltd. and Delhivery Ltd. are some of the top losers on the BSE mid-cap index and Indiamart Intermesh Ltd., Prithvi Exchange (India) Ltd., Nippon Life India Asset Management Ltd., and Voltas Ltd. are few of the top losers on BSE small-cap gauge.