"Volatile macro conditions create an ideal environment for bottom-up, style-agnostic fund managers to generate alpha," Trideep Bhattacharya, president & CIO-Equities, Edelweiss Asset Management says.

Large caps lost 1.4% compared to their Nifty 50 TRI that lost 5.4%, the midcap universe gained 5.4% against the Nifty Midcap 150 TRI gain of 4%, while the small cap universe gained 6.4% against the Nifty Smallcap 250TRI that gained 0.1%.

The flexicap universe gained 1.1% against the Nifty 500 TRI that lost 1.7%, while the multicap universe gained 3.2% compared to its benchmark Nifty 500 Multicap 50:25:25 TRI that lost 0.6%.

While sectors like defence, capital markets, data centre stocks moved up, private sector banks and large cap IT stocks lagged on account of FII selling due to a weak rupee and fears of AI hitting IT revenues and profitability. Given the large number of active schemes and fund houses, careful scheme and fund selection is important.

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