The Nifty Capital Market index surged 2.5% to hit a 52-week high of 5,614.60 on Tuesday, surpassing its previous peak of 5,592.35 touched on May 8, 2026. According to reports from Business Standard, since the start of April 2026, the Nifty Capital Market index has significantly outperformed the broader market with a 31% gain compared to 6.2% rise in the Nifty 50. Individual stock performances were particularly strong, with BSE shares gaining 4% to ₹4,298.90 and Multi Commodity Exchange of India (MCX) shares rising 3% to ₹3,447.40, both hitting record highs.
MCX reported strong Q4FY26 results led by significant spike and volatility in commodity prices across bullion and energy sectors. As reported by Business Standard, the exchange achieved a strong Ebitda margin of 75% in Q4, which has been improving with scale. Analysts at ICICI Securities estimate Ebitda margins at 72.8% and 72.3% for FY27E and FY28E respectively, citing high operating leverage and contained expenses as key factors supporting strong margins going forward.
Angel One shares surged 7% as the company continues to benefit from financialisation trends, drawing masses to markets. According to Business Standard, the brokerage firm JM Financial Institutional Securities believes the earnings trajectory of 30%+ EPS compounding over FY26-28E is now largely priced in. The company's valuation of 22x/19x FY27E/28E EPS reflects the risk to earnings from potential regulatory action on derivatives, with analysts valuing the stock at 21x FY28E EPS of ₹18, yielding a revised target price of ₹350.
Equirus Securities projects 15-18% mutual fund AQAAUM compound annual growth rate (CAGR) for HDFC AMC/ICICI AMC/NAM over FY26-28E, driven by strong growth in equity asset under management (AUM). As reported by Business Standard, scheme performance across major equity schemes for HDFC AMC/ICICI AMC/NAM remains strong, with Aditya Birla Sun Life AMC seeing gradual recovery since June 2025. The brokerage firm expects the next leg of upside for Angel One as the distribution engine matures and asset and wealth management businesses start to break even from FY29E onwards.
