India’s stock markets ended June on a high note, with broad-based gains across all segments, led by small and mid-cap stocks, according to the latest report from Motilal Oswal Asset Management Company (AMC) released on Thursday.
The Nifty Smallcap 250 emerged as the top performer, registering a monthly gain of 5.73%, while the Nifty Midcap 150 followed closely with a 4.09% rise. The rally wasn’t confined to June alone. Over the first quarter of FY26, the Smallcap 250 surged 17.83%, and the Midcap 150 delivered a 15% return, reflecting sustained investor interest in broader market segments.
Large-cap indices also participated in the rally. The benchmark Nifty 50 posted a 3.1% increase, and the Nifty Next 50 rose 3.35%. The Nifty 500, representing the broader market, gained 3.58% in June, driven largely by robust performances in financial services, consumer discretionary, and commodity sectors.
Even the often-volatile microcap segment joined the upward trend, with the Nifty Microcap 250 rising 3.03%, signaling strong, across-the-board market momentum from microcaps to large-caps.
Among sectoral indices, all sectors recorded positive returns except FMCG. Notably, the IT sector, which has underperformed for much of the year, showed signs of a rebound with a 4.36% return in June.
From a strategic perspective, all factor-based indices ended the month in the green, with momentum strategies delivering the strongest returns, indicating a bullish tilt among investors focused on trend-driven equities.
Global Trends and Commodities
The rally wasn’t limited to domestic markets. Global equities saw strength as well. The S&P 500 gained 4.96% in June, with technology stocks accounting for over 60% of the index’s total monthly returns.
Among global markets, South Korea led gains among emerging economies, while Germany outperformed among developed nations, reflecting a synchronized global upswing.
In commodities, trends were mixed. Crude oil prices rose 7.11%, spurred by renewed geopolitical tensions between Iran and Israel. In contrast, precious metals delivered standout returns, with silver surging 8.75%, significantly outperforming gold, which remained relatively flat for the month.
The report highlighted that both gold and silver have returned over 20% year-to-date, underlining continued investor demand amid inflationary and geopolitical concerns.
