India's smallest listed stocks have quietly delivered the strongest run in the market over the past six months, beating largecaps, midcaps and smallcaps by a wide margin. The Nifty Microcap 250 index rose 11% in the six months ended June 2026, making it the best-performing size index during the period. In comparison, the Nifty Smallcap 250 gained 6%, the Nifty Next 50 rose 3%, the Nifty Midcap 150 added 2%, while the Nifty 500 fell 3% and the Nifty declined 9%, according to Motilal Oswal data.
The outperformance was sharper over three months. The Nifty Microcap 250 jumped 33%, ahead of the Nifty Smallcap250's 24% and the Nifty Midcap150's 17%. It also led the one-month chart with a 6% gain. The rally shows how money has moved back into riskier pockets of the market after a weak phase for broader indices.
