Analysis: why small caps ran ahead of large caps this month

Earnings upgrades and retail flows did most of the work.

Published 26 October 2026 at 5:32 pm IST · 1 min read

Key points

The trend is clear over three years of data, though a single month can swing either way.

The announcement came at a short briefing, and a written note with the full figures is due online.

Several forces are at work at once, and none of them explains the whole story on its own.

This is a demo story: every name, place, organisation and figure in it is fictional.

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