Indian stock market and US stock market: Dalal Street’s small-cap and micro-cap indices outperformed global market indices, including Wall Street, as small-cap and mid-cap indexes rose strongly in the January-March 2024 quarter. The Nifty 500 index has soared to 6.40% year-to-date, while the Nifty Next 50 index has soared to 17.50% in 2024. While the Nifty Small Cap 250 Index and Nifty Microcap 250 Index have shown growth of over 85 per cent and 63 per cent, respectively, over the past year, these indexes recorded zero returns in March 2024.
India vs US stock market
However, the leading indices of the Indian stock market failed to outperform the leading indices of the US stock market in 2024. The Nifty 50 index has risen 6.40 per cent year-to-date, the BSE Sensex index has surged to 2.73 per cent in 2024, while the Bank Nifty index has gained about 0.54 per cent. In the overall market, the BSE small cap index has surged over 7% year-to-date, while the midcap index has registered a gain of 10.24% in 2024.
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On Wall Street, the major benchmark S&P 500 index is up 9.73% year-to-date, the tech giant Nasdaq index is up more than 10% in 2024, and the Dow Jones index is up 3.15 this year. %Rose.
Therefore, in 2024, the leading index of the US stock market outperformed the main benchmark index of the Indian stock market.
How did Dalal Street perform in Q1 2024?
According to Motilal Oswal Asset Management Company’s Global Market Snapshot Report, Nifty Next 50 continues its streak as a top performer with a growth of 2.8%. The index has increased continuously by 13.65%, 34.61%, and 60.39% over the past 3 months, 6 months, and 1 year, respectively. Nifty Smallcap 250 Index and Nifty Microcap 250 Index have shown growth of 85.12% and 63.07% respectively in the past year. However, these indices witnessed a change of -4.24% and -6.22% in March 2024, respectively.
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“The automobile sector continued its upward trajectory, rising 4.9% and becoming the top performer, while the IT index fell 7.5% and became the worst performer.Also, the real estate sector posted an astonishing jump of 132.5 in FY24. It recorded a ‘% return and secured its position as the best performing sector this year,” Motilal Oswal AMC’s Global Market Snapshot report added. The report further added that all factor-based investment strategies except quality yielded positive returns. Momentum factors led with his notable increase of 2.6%. Financial services, consumer sector and industrial sector were the top three sectors contributing to the overall revenue of Nifty 500, with a positive impact of 1.1%.
Latest information on the global market
“In the U.S., both the S&P 500 and NASDAQ 100 posted gains of 3.1% and 1.2%, respectively, in March 2024, with all sectors contributing positively to the S&P 500’s rise.Taiwan leads the emerging markets Germany and the UK emerged as top performers among developed markets, each experiencing an increase of 3.8%, according to Motilal Oswal AMC’s Global Market Snapshot Report. states.
The report further added that crude oil prices rose for three consecutive months, increasing by 6.3% in March. The recent surge is due to Ukraine’s drone attacks on Russian oil refineries and OPEC’s extension of production cuts. In March 2024, the yellow metal reached an all-time high, registering an 8.1% increase. In FY24, Bitcoin rose by 150.2% and Ethereum by 100%, indicating significant growth in the crypto market.
Indian stock market triggers
When asked about the reasons behind the rise in the frontline and broader market indices of the Indian stock market, Basab Capital founder Sandeep Pandey said, “The recent record GST collection by the Reserve Bank of India (RBI) and the following attractive predictions.” “Although the Monetary Policy Committee (MPC) meeting has concluded, the market expects strong Q4 2024 results for Indian companies. is expected to dominate the growth story of
The founder of Basab Capital and former vice president of HDFC Bank further added that the rise in small-cap, micro-cap and mid-cap indices should be seen as a sign of the rise of the Indian economy as a large-cap. Such companies are based there to gain domestic business. He said most of the major countries in the world market are reeling under poor economic conditions, especially concerns about inflation.
“Despite the Federal Reserve signaling an end to the high interest rate regime, U.S. central bank officials have indicated they have a clear deadline for rate cuts. “We expect a rate cut. Following the central bank’s monetary policy meeting that just concluded last week, India is expected to see at least a 1% rise by the end of 2025,” Sandeep Pandey said.
Disclaimer: The views and recommendations expressed above are those of individual analysts, experts, and brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.
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