India’s Large Stocks Make a Comeback in Last Month of 2023
Large-cap stocks in India are set to outshine their smaller peers this month, halting their record run of monthly underperformance.
(Bloomberg) -- Large-cap stocks in India are set to outshine their smaller peers this month, halting their record run of monthly underperformance.
Strong buying from global funds, relatively inexpensive valuations compared to small-cap stocks and receding political risk after Prime Minister Narendra Modi’s victory in key state polls have stoked investor appetite for the biggest and most liquid firms.
The Nifty 50 index has climbed about 8% in December, it’s best month since July 2022, compared with the 6.4% gain for NSE’s small-cap gauge. To be sure, the Nifty Smallcap 100 Index is still up more than 50% for the year, more than double the benchmark gauge’s year-to-date return.
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