In the first 100 days of Modi 3.0, Sensex surged 8.2% with BSE Smallcap up 18%. Top smallcaps like Refex Industries soared 221%. Investors are cautious due to tax hikes and policy risks. In the first 100 days of Modi 3.0, Sensex surged 8.2% with BSE Smallcap up 18%. Top smallcaps like Refex Industries soared 221%. Investors are cautious due to tax hikes and policy risks. Economic Times