Mid-cap stocks turn pricier than large caps; the run-up may face hurdles

Small- and mid-cap stocks have been on a sharp upswing, but as covid-19 infections soar and as the economic slowdown continues, this run-up may be nearing its limits. Mid-cap stocks have seen their valuations edge past the frontline index. In the past month, the Nifty 50’s increase of 2.9% pales in comparison to the rise of 11% and 16% in the Nifty Midcap 100 and Small-cap 100 indices. After undershooting the broader markets since January 2018, the rise is being seen as an attempt to catch up on valuations.

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