Large cap stocks have performed moderately while small cap stocks are clear losers as far as investing preferences go.
The BSE Mid-Cap Index, which was launched on April 11, 2005, and comprises 231 companies representing 15 per cent of BSE's eligible universe, has shot up 47.58 per cent from 3094.96 on April 11 to 4567.42 on June 15 this year.
However, the BSE Small Cap Index, which comprises 425 companies representing five per cent of BSE's eligible universe, has fallen sharply by 12.85 per cent from 3889.65 to 3390.01 during this period.
Aided by a resurgence in interest in large cap stocks in recent trading sessions, the BSE Sensex, which comprises 30 primarily large cap stocks, has gained a modest 7.96 per cent from 6397.52 to 6906.98.
Interestingly, the top five stocks by weightage in the small cap index have performed better than the top five weighted stocks in the mid cap index.
But it was the remaining stocks in the small cap index, which have fared poorly and have brought down the overall performance of the small cap index.
Of late, their have been growing concerns among investors that the mid-cap index, which has been defying gravity for some time now, is at relatively more expensive valuations than the large cap index.