With the BSE MidCap index seeing a sharp fall this year, its valuation premium over larger set of stocks is shrinking at a rapid pace. From beginning of this fiscal, the premium of BSE MidCap index to Sensex has slipped 65.11% to current levels from the highs it had touched on 3 September.
Broder Markets Underperform
The broader market declined and underperformed the larger peers; the S&P BSE MidCap Index was down 0.03%, whereas S&P BSE SmallCap Index was lower by 0.11%. Eight out of the 19 sectors compiled by BSE declined, while 11 advanced in trade. The market breadth was skewed in the favour of …