New Delhi, April 17 -- The small-cap segment of the Indian stock market has been witnessing strong momentum lately as market sentiment improves amid a fall in crude oil prices from their multi-year high levels, signs of easing tensions in West Asia, and strong domestic retail buying.

The Nifty Smallcap 250 index has gained over 13% in April till the 16th, compared with an 8% rise in the benchmark Nifty 50.

Small-cap stocks, such as Ola Electric and Gallantt Ispat, have surged up to 70% this month. In fact, more than 230 stocks in the Nifty 250 index are in the green for April so far, with as many as 175 stocks rising more than 10%.

On Friday, 17 April, the Nifty Smallcap 250 index rose by more than 1% during the session, even as the Ni...