The rally in Indian mid-and smallcap indices thus far in calendar year 2024 (CY24) has been the best in class across the world, eclipsing the global FTSE benchmarks, and also out running peers from other leading world stock markets. 

This is despite the correction in the mid-and smallcap segments back home seen in the last few days, triggered by valuation concerns, geopolitical developments amid nervousness ahead of the July – September 2024 (Q2-FY25) corporate results season. 

While the FTSE Global Mid Cap index and FTSE Global Small Cap indices have moved up 12 per cent and 9.3 per cent during this period, Bloomberg data shows, the FTSE Global India Small Cap index has outperformed these global benchmarks with a 25.2 per cent surge in CY24. The mid- and small-cap indices on the NSE back home have gained 25.7 per cent and 26.7 per cent, respectively in CY24.