While the benchmark Nifty 50 index has been confined to a broad trading range, the broader markets or the mid-cap and small-cap universe has been buzzing with action. Let us take a closer look at the current trend and the near-term outlook for the Nifty MidSmallcap 400 Index. We have covered this index in an earlier article, and we take a relook now.
The benchmark Nifty 50 index has been drifting lower since February 16, 2021 when it recorded a high of 15,431.8. While there has been some recovery in the past few weeks, the real action has shifted to the broader markets. Lots of stocks from the mid-cap and small-cap sectors have continued to seek higher levels even as the Nifty 50 index has been struggling in a broad range.