Markets post best H1 show in 3 years

Indian equities posted their best half-yearly performance of the past three years in January-June 2024 (H1 CY24), with the National Stock Exchange Nifty 5( and BSE Sensex surging 10.5 per cent and 9.4 per cent, respectively.

- DEEPAK KORGAONKAR & PUNEET WADHWA

During this period, the BSE Midcap and Smallcap indices outperformed thei largecap peers with gains oI 25 per cent and 22 per cent, respectively.

The strong rally in equities in H1 CY24 was led by stocks in the automobile, capital goods, telecom and public-sector undertaking (PSU) sectors. These sectors, analysts said, reported better than expected earnings for the March quarter (Q4FY24) and attracted domestic investors, who pumped nearly 2 trillion into the Indian equity markets.

The BSE Realty index was the top performer in H1 CY24 with a gain of 40 per cent, while the power and auto indices allied 37 per cent and 36 per cent, respectively.

As many as 10 Nifty 50 stocks outperformed the benchmark as well as broader indices by surging over 30 per cent in H1 CY24.