Capital market stocks surge up to 43% in April after months of decline
Capital market stocks rebounded strongly in April after months of decline. The sector saw gains of up to 43%, with several major firms leading the surge. This recovery followed a four-month slump caused by higher transaction taxes and weaker investor sentiment. The Nifty Capital Market index jumped 23.20% in April, far outpacing the broader Nifty 50. Companies like Groww, Angel One, BSE, and Motilal Oswal Financial Services were among the top performers. Billionbrains Garage Ventures, Groww’s parent company, delivered the highest return at 43%.
Angel One’s stock rose 36% after its Q4 net profit surged 83%. Nippon Life India Asset Management also climbed 26% on strong March quarter results. Other firms, including HDFC AMC, Anand Rathi Wealth, and ICICI Prudential Asset Management, saw gains between 14% and 22.4%.
The rally came as tensions in West Asia eased and foreign portfolio investors slowed their selling. This shift helped revive Asia’s third-largest economy, lifting market confidence. Earlier, the Reserve Bank of India had extended the deadline for new capital market exposure norms by three months, pushing the original April 1 implementation date to July. April’s gains marked a sharp turnaround after four consecutive months of losses. The sector had struggled since the Union Budget raised securities transaction tax, weighing on investor activity. With improved global conditions and stronger corporate earnings, capital market stocks regained momentum.
