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Indian equity markets wrapped up April with robust gains across key indices, with mid- and small-cap segments leading the charge. According to a report released by Motilal Oswal Asset Management Company, the Nifty Midcap index outperformed all others with a monthly gain of 3.94 per cent, while the Nifty Smallcap index rose by 1.69 per cent.

The rally signals sustained investor confidence in broader market segments, particularly mid- and small-cap stocks, which have been gaining traction amid optimistic domestic sentiment and improving macroeconomic indicators.

The benchmark Nifty 50 index also delivered strong returns, rising 3.46 per cent in April, while the Nifty Next 50 advanced 2.32 per cent. The broader Nifty 500 index climbed 3.24 per cent, buoyed by strong performances in sectors such as financial services, consumer discretionary, and energy. The Nifty Microcap 250 joined the uptrend with a gain of 1.28 per cent, reflecting a broad-based market rally.

Sectorial Performance

Among the top sectoral performers, the Defence sector emerged as a standout, surging 11.49 per cent in April and notching a remarkable 32.03 per cent gain over the past 12 months. Analysts attribute this growth to consistent government backing for domestic manufacturing under the ‘Atmanirbhar Bharat’ initiative and increased capital allocations for defence procurement.

However, not all sectors fared equally well. The Information Technology sector saw a marginal dip of 0.27 per cent, impacted by global tech spending concerns and earnings volatility. Commodities also edged lower by 0.07 per cent amid weaker international cues.

Factor-based investment strategies such as momentum and quality indices continued to yield positive results, while low volatility and enhanced value indices also recorded upward movement. On the fixed-income side, government bond indices posted modest gains, with both 5-year and 10-year G-Sec benchmarks reflecting relative stability.

Globally, US equity markets delivered mixed outcomes. The S&P 500 slipped 0.21 per cent as losses in energy and healthcare outweighed gains in IT and consumer staples. The Nasdaq 100 managed a 1.5 per cent increase, driven by resilience in technology stocks, while the Dow Jones Industrial Average declined by 2.2 per cent during the same period.