Market extends gains amid buying across sectors, barring FMCG
Sensex closed 598 points, or 0.74 per cent, higher at 80,845.75, with 25 stocks in the green while the Nifty 50 closed 181 points, or 0.75 per cent, up at 24,457.15.
Indian equity markets gave stellar returns in the first six months of 2024.
The Sensex was up nearly 8 per cent and Nifty was up nearly 9 per cent so far this year.
The impact of the rally in the market was also visible on mutual fund schemes and investors have got very good returns.
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According to a media report, around 260 mutual fund schemes have given an average return of about 17.67 per cent in the first half of 2024.
In terms of returns, top mutual funds schemes were from the Midcap and smallcap categories.
Quant Midcap Fund, JM Midcap Fund, ITI Midcap Fund, and Motilal Oswal Midcap Fund are on top, with returns of more than 30 per cent, since the start of 2024.
JM Flexi Cap Fund, Quant Value Fund, Quant Large and Midcap Fund, ICICI Prudential Midcap Fund, and LIC Small Cap Fund are among the top 10 schemes with returns ranging from 27 per cent to 29 per cent.
Nippon India Small Cap Fund, which is the largest fund by asset value, has given a return of nearly 21 per cent.
At the same time, HDFC Midcap Opportunity Fund, the largest fund in the midcap category, has given returns of more than 20 per cent to investors so far in 2024.
Mirae Assets Focused Fund gave the lowest return of about 7 per cent to investors in the beginning of 2024.
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