Nifty Midcap, Nifty Smallcap at Record Highs: Up for 7th Straight Day

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Nifty Midcap, Nifty Smallcap at Record Highs: Up for 7th Straight Day
Credit: © Reuters.

By Malvika Gurung -- The midcap and small-cap indices NIFTY Midcap 100 and NIFTY Smallcap 100 are notable performers on Tuesday as the broad market gauges hit all-time highs in the session.

Nifty Midcap 100 surpassed the 40,000 mark for the first time ever on September 5, 2023, and neared the 40,300 level later in the session, scaling a record high of 40,271 during the intraday trade and jumping 1.1%.

Nifty Smallcap 100 spiked 1.2% on Tuesday and recorded a new lifetime high of 12,701.05 in the session.

The two broad market indices have been witnessing a bull streak for the past seven sessions, zooming up to 8.3% during the period.

The midcap and smallcap indices have continued to showcase a strong upswing despite warnings of high valuations and caution from market experts.

So far in the calendar year 2023, Nifty Midcap 100 and Nifty Smallcap 100 have rallied 27.7% and 30.12%, respectively, outperforming the benchmark indices Nifty 50 and Sensex , which rose 8% and 9.95% in the period.

Investors should tread in the small-cap and mid-cap spaces with caution, given the build-up of a lot of frothy valuations in the segments, stated Nilesh Shah, MD of Kotak Mahindra (NS: KTKM ) AMC, as per Business Line.

On the Nifty Midcap 100 index, Jubilant Foodworks (NS: JUBI ) led the gains, jumping 7.4% on Tuesday, followed by Bank of India (NS: BOI ) and Trident (NS: TRIE ).

The Navratna public sector enterprise NBCC (NS: NBCC ) (India) was the top gainer on Nifty Smallcap 100, Century Textiles (NS: CNTY ) & Industries, Cyient (NS: CYIE ) and Tanla Platforms (NS: TNSL ).

Read Also: Nifty PSU Bank at Record High, Bull Streak Extends; Trumps Benchmarks

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    It's perfect time to choose mid cap stock for long time .
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