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Indian equity markets continued their upward trajectory in August, with all major indices delivering positive returns. The Nifty 500, in particular, surged 12.47 per cent during the month, showcasing strong momentum, noted the Motilal Oswal Asset Management Company’s Global Market snapshot report.
The Nifty smallcap 250 surged 1.24% in the month of August, 16.28% over the last three months, 21.42% over the past 6months and 52.29% over the year. The Nifty Microcap 250 has surged 1.17% in the month of August, 21.60% over the last 3months, 24.20% over the past 6months and 58.01% over the past year. The Nifty 50 has surged 1.14% in the month of August, 12.01% over the last 3 months, 18.14% over the past 6 months and 40.24% over the past year.
The Nifty 500 has grown 12.47% over the past 3 months, 22.23% over the past 6 months, and a one-year growth change of 54.60%.
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The Nifty Next 50 has shown a growth of 11.48% over the past 3 months, 27.61% over the past 6 months, and 69.49% over the past year.
The Nifty Midcap 150 has surged 13.55% over the past 3 months, 22.96% over the past 6 months, and a 49.22% increase over the past year.
Healthcare & IT sector continued their upward journey and delivered returns of 5.50% & 4.74%, respectively while Realty was the worst performing sector in August 2024 with negative returns of -3.69%. However, it has shown grown 88.65% in the past one year. In contrast, the Bank & Metal sectors have seen negative returns of -0.39% & -1.86% respectively. After experiencing a streak of positive returns for three and six consecutive months, the Automobile & Energy sector faced a setback in August with a -1.92% & - 0.75% decline.
Momentum and Low Volatility strategies have delivered positive returns consecutively for the past 3months, 6months & 1year, whereas the Value and Quality strategies experienced negative returns of -0.73% & 0.26% respectively.
The Nifty 500's gains were primarily driven by the IT, Healthcare, and Financial Services sectors, while Industrials contributed the least.
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