India has seen massive FII inflows from March to till date July of almost US$ 19.2bn vs net outflow of US$ 3.4bn in Jan-Feb and outflow of US$ 18.4bn in CY22.
Its worth noting that the price-to-book valuation discount of the midcap and smallcap Indices compared to largecap indices, have significantly narrowed, he said.
Midcap vs largecaps: This movie has in fact played out in the stock markets several times. Last time midcaps rallied sharply in 2017, the rise was driven primarily by a re-rating of multiples