Small- and mid-cap shares raced ahead of large caps in April, shows data

With markets getting back their mojo after four months, small- and mid-cap shares raced ahead of large caps in April.

The Nifty Smallcap 100 index surged 7.5 per cent — its biggest monthly advance in 10 months — and outperformed the benchmark Nifty 50 index by 350 basis points. The Nifty Midcap 100 index soared 5.9 per cent, most since August. Interestingly, April has been a strong month for the small cap universe historically.

In the past decade, the BSE Smallcap index has delivered positive performance on nine out of 10 occasions with an average return of nearly 5 per