Microcap stocks steal show in April, outpace, Nifty, smallcap, midcaps, largecaps. What’s driving the surge?

Indian equities surged in April 2026, led by strong gains in mid, small, and microcaps despite persistent macro risks, foreign outflows, and currency weakness. Market performance diverged from fundamentals, which remained stable, suggesting price-driven momentum rather than earnings-led improvement across segments.

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