Today, Nifty Midcap 100 index rose 0.5% across the psychological level of 20,000 for the first time in two years. Comparative to the flat Mumbai market, the Nifty Midcap index rose to 20,020 at the day’s high, as reported by Mint.
Nifty Midcap 100 index has rebounded aggressively since March lows and around 70 percent from 1st April 2020.
Ajit Mishra, Vp – Research, Religare Broking Ltd said, “We feel the recent traction in the broader market will continue but only fundamentally sound midcap and smallcap counters should be preferred for trading or investment.”
The Nifty Midcap 100 Index captures the movement of the midcap segment of the market. The Nifty Midcap 100 Index comprises 100 tradable stocks that are listed on the National Stock Exchange.
It uses free-float market capitalization, where the level of the index reflects the total free-float market value of all the stocks in the index with a particular base market capitalization value.
Nifty Midcap 100 is used for benchmarking the fund’s portfolio, launching index funds, ETFs, and structured products.
