Today: 7 October 2025
29 December 2023
1 min read

Mid and Small Caps Outshine Nifty in 2023

The trend is likely to be reversed in 2024 since the mid and small caps are overvalued and large caps are relatively fairly valued…reports Asian Lite News

As 2023 draws to a close, the most significant feature of the year’s rally is the sharp outperformance of the broader market, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The midcap index is up by almost 45 per cent and the small cap index is up by 55 per cent leaving the Nifty far behind with appreciation of around 20 per cent. This trend is likely to be reversed in 2024 since the mid and small caps are overvalued and large caps are relatively fairly valued, he said.

Autos, construction and financials are set to do well in 2024. Autos are in a cyclical rebound, financials are fairly valued even after the recent run up and the prospects for construction related segments continue to look good. Capital goods will continue to do well in 2024 too.

January is normally a poor month for the market. Q3 results and management commentary will be keenly watched by the market, he added.

BSE Sensex is down 174 points at 72235 points. SBI, Infosys, Kotak Mahindra Bank, NTPC are down more than 1 per cent.

PSU and oil and gas indices are trending lower.

ALSO READ: India’s Gold Market at Crossroads

Previous Story

Pro-Palestinian Protestors Hold Mock Funeral in NYC

Next Story

Amazon’s Climate Pledge Advances

Latest from Business

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s

Gold Shines Bright Amid Global Jitters

Gold and silver continued their bullish run on Monday, scaling new highs amid mounting global uncertainties, heightened geopolitical tensions, and growing expectations of a US Federal Reserve rate cut. According to the

ADNOC signs 15-year LNG deal with Indian Oil

Under the deal, LNG cargoes can be delivered to any port across India, enhancing the country’s energy security and meeting its rising energy demand. Abu Dhabi National Oil Company (ADNOC) has signed

India Inc Eyes Upswing

Private equity (PE) remained comparatively stable in Q2, clocking 357 deals worth $7.4 billion — the second-highest volume since Q4 2022. However, deal values dipped on a quarter-on-quarter basis due to the
Go toTop

Don't Miss

‘Pathaan 2’ script is ready for dialogues, reveals Abbas Tyrewala

Recently, writer-director Abbas Tyrewala appeared on a podcast with Cyrus

‘India’s Chip Boom Nears’

With global semiconductor leaders like the United States, Taiwan, Japan,