The underperformance in the broader markets has cast doubt on the sustainability of the rally seen in the benchmark indices over the past month. From October lows, the benchmark Nifty and Sensex rallied over 8 per cent, with the latter even managing to register fresh all-time highs.
By comparison, the broader market Nifty Midcap 100 and the Nifty Smallcap 100 gained the most-2 per cent during this period. After the latest correction, the one-month return for the Nifty stands at 3.3 per cent; for the Nifty Midcap 100, at less than a per cent; and for the Nifty Smallcap 100, minus 0.2 per cent.
Market players said in a bullish environment, the broader markets tend to perform better than large caps. However, lack of participation in the broader markets reveals caution among investors and absence of confidence.
This story is from the November 22, 2022 edition of Business Standard.
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This story is from the November 22, 2022 edition of Business Standard.
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