Nifty at 26K, but why is your stock portfolio bleeding?

Nifty crossed 26,000 on November 26, 2025, followed by the SENSEX breaching 86,000, signalling market optimism. However, investors’ portfolios tell a different story. While Nifty rose 6–7% over the past year, the BSE SmallCap index fell 5% and the MidCap index gained only 2%. This divergence highlights why index highs aren’t uniformly reflected across all portfolios.