NIFTY Midcap 100 and Smallcap 100 deliver steady returns in Samvat 2082; what lies ahead for Samvat 2083?

Indian benchmark indices have shown a remarkable recovery ahead of Diwali 2026. As investors enter Samvat 2083 on a positive note, benchmark indices have surged over 8% in just six trading sessions.

On a YTD basis, NIFTY50 has largely remained in the red with -7% returns, while the broader markets have relatively outperformed the NIFTY50 by a wide margin. Here is how Samvat 2082 has fared for Midcap and smallcap stocks: who gained and who lost?

NIFTY Midcap 100

In Samvat 2082, the midcap index delivered largely flat returns at +2.1%, in a very volatile year. The index turned negative and fell almost 13% in April and then bounced back to hit fresh record highs in August.

However, amid fresh selling pressure from August pull the index nearly 14% lower from record highs. Amidst the volatility, the index delivered flat-to-positive returns. On a YTD basis too, midcap index have largely remained unchanged.

In the Samvat 2082, the index breadth largely favoured declines with ~60 stocks closing in the red for the year and 40 in the green. Among the major winners were, Laurus Labs (+137%), Groww (+92%), MCX (+87.9%), Lenskart Solutions (+80.2%), Apar Industries (+68.8%) were the top five gainers.

While Swiggy (-53.6%), PI Industries (-52.9%), PB Fintech (-46.5%), Godfrey Phillips (-40.7%), and RVNL (-40.6%) were the top five losers.

NIFTY Smallcap 100

The smallcap index relatively outperformed the midcap index by delivering 4% returns in Samvat 2082. The index too witnessed wild swings throughout the year, falling nearly 18% in April from Oct 21, 2025, to hitting record peaks of 20,187 in September, 2026.

The breadth largely remained neutral with ~49 stocks closing in the green, while 51 other in the red.

The smallcap index witnessed some remarkable rallies in Samvat 2082. Shares of Cupid (+580%), Sterlite Technologies (+498%), Ather Energy (+173%), HFCL Ltd (+173%), Welspun Corp (+142%) were among the top five gainers. On the flipside, KEC International (-58%),Inox Wind (-58%),KPIT Technologies (-53.2%), Kaynes Technology (-53%), Coherence Lifesciences (-41%), were among the top five losers.

What lies ahead?

Midcap and smallcap stocks witnessed a highly volatile Samvat 2082, primarily driven by volatile crude oil prices and geopolitical instability. In addition, FII’s selling remained persistent keeping the benchmarks in the tight range throughout the year.

Besides, this, earnings growth remained mixed across sectors. As the uncertainty abates from the Middle East war and the FIIs pour inflow back into the Indian equity markets, the Samvat 2083 could hold surprises for investors. However, stretched valuations and steady earnings growth could remain an overhang on the broader indices.

Disclaimer: Investments in the securities market are subject to market risk. Read all the related documents carefully before investing. The stock details discussed in this article is only for educational purposes and not a buy or sell recommendation. Investors are advised to conduct their own analysis and risk due diligence before trading and investing in the stock market.