MUMBAI: The Indian equity markets ended the month of April on a strong note, with the Nifty Midcap index emerging as the top performer, registering a gain of 3.94 per cent, followed by a 1.69 per cent rise in the Nifty Smallcap index, a new report said on Saturday.
This reflects continued investor interest in mid- and small-cap stocks amid broader market optimism, according to data compiled by Motilal Oswal Asset Management Company.
The benchmark Nifty also delivered a solid performance, rising by 3.46 per cent for the month, while the Nifty Next 50 gained 2.32 per cent.
The Nifty 500 index climbed 3.24 per cent, supported by consistent gains in financial services, consumer discretionary, and energy sectors.
The Nifty Microcap 250 also participated in the rally, advancing by 1.28 per cent, as per the report.
A key highlight of the month was the Defence sector, which surged by 11.49 per cent in April and posted an impressive 32.03 per cent return over the past year.
This growth has been fueled by strong government support for self-reliance and sustained investment in the sector.
The Information Technology (IT) sector saw a slight decline of 0.27 per cent, while commodities slipped by 0.07 per cent, affected by global market headwinds and sector-specific concerns.
Factor-based indices such as momentum and quality continued to deliver steady returns.
Meanwhile, enhanced value and low volatility indices also moved higher, and government bond indices posted modest gains, indicating stability in the fixed income space across the 5-year and 10-year G-Sec benchmarks.
Globally, the US markets gave a mixed performance. The S&P 500 declined slightly by 0.21 per cent as gains in IT and consumer staples were offset by losses in energy and healthcare.
The Nasdaq 100 rose by 1.5 per cent, while the Dow Jones Industrial Average declined by 2.2 per cent.