Broader market indices have fully recouped losses triggered by the West Asia conflict, returning to pre-war levels as of April 17. Investors had reduced exposure to mid- and small-cap stocks amid heightened volatility and concerns over supply chain disruptions following the US and Israel’s strikes on Iran on February 28. The Nifty Smallcap 100 and the Nifty Midcap 100 indices led the recovery, with the Nifty Midcap 100 up 1.12% and the Nifty Smallcap 100 gaining nearly 1.5% as of 3:10 pm.
Mid- and small-cap indices had declined 11–12% after the onset of the conflict. Since February 28, midcap indices have climbed 13–15%, while smallcap indices have advanced 16–17%. At 2:45 pm on April 17, the Nifty Smallcap 100 index rally was driven by Angel One, Ircon International, and Triveni Turbine, which rose 10%, 9%, and 8.9%, respectively. Shares of Angel One rose over 10% to Rs 322.90 apiece after the company released its March quarter results, with a consolidated net profit surge of almost 84% on year to Rs 320 crore.
At 3 pm on April 17, the Nifty Midcap 100 index rally was driven by Adani Total Gas, Colgate Palmolive, and Radico Khaitan, which climbed 6.3%, 6.2%, and 5.3%, respectively.
