Summary: Mumbai (Maharashtra) [India], July 22 (ANI): Equity benchmark indices extended losses during early hours on Monday tracking weak global cues with small and midcap stocks
In early company news, midcap stocks
Victrex and Diploma reported contrasting first-half earnings, Metro Bank set out its plan to raise capital, and FirstGroup faced unrest from one of its shareholders.IG futures indicate the FTSE 100 index is to open 14.61 points higher at 7,217.90.
Domestic and foreign institutions were seen net sellers on the bourse, whose capitalisation tanked 2.51% to QR487bn mainly due to small and midcap stocks
"Following the outperformance of small and midcap stocks
, many of these stocks now command a premium valuation, compared to their larger peers," said Miller.
Smallcap and midcap stocks
, which in previous sessions had bucked a weak trend, saw a huge sell- off with their indices falling over three per cent each.
S Naren, chief investment officer at ICICI Prudential AMC, which manages funds worth about Rs 97,000 crore, expects markets to remain stable going forward and currently sees buying in "cyclical, PSU and midcap stocks
, where valuations are reasonable".
"It is true that small- and midcap stocks
have taken a beating recently and are available much cheaper than they were six months ago, but we do not know if their downward journey will stop here," says P V Subramanyam, a financial market expert and chartered accountant.
CHICAGO: Like the middle children they are, midcap stocks
are often outshined by their mega-cap brethren.
"Valuations are more attractive and opportunities are bigger" in midcap stocks
, he said.
It just follows the top 400 Midcap stocks
in the S&P 500 index.
Scheme Classification & Objective: The basic objective of Sahara Midcap fund is to achieve long term capital growth at medium level of risks by investing primarily in Midcap stocks
29 December 2009 - French specialty pharmaceutical group Ipsen (EPA: IPN) saw its shares retreat 1.90% to EUR38.81 (USD56) on Euronext Paris at close yesterday, after Gilbert Dupont withdrew it from its list of favourite midcap stocks