This week there was a sharp correction in the mid-cap index, and market breadth was also weak. This should serve as a warning to all those who are buying stocks without bothering to look at what is the business of the company. The way correction panned out, there is higher probability of a correction in mid-cap space continuing if there is more trouble with Nifty. But rather than bothering about what will happen to nifty in the next few weeks or quarters, long term investors looking to take exposure to the mid-cap should focus on individual companies and their underlying business. At the same time, because overall valuations are high, be ready for underperformance for some time and focus on the long term.
Aditya Birla Sun Life AMC one of the top asset managers in India served more than 8.01 million investor folios for the quarter ending December 31, 2022, with a pan-India presence across 290+ locations and a total AUM of more than Rs. 2,930 billion.