While Nifty looks relatively calm for the year, there is a sharp correction in the broader markets. Nifty Midcap 100 is down close to 20% in the past one year while the Nifty Small 100 index is down about 33%.
This graphic by Livemint shows the level of carnage. The vaunted Midcap premium has disappeared and Midcap 100 index is trading at a forward PE of 15 times vs 17 times of Nifty 50.
Is this is the time to start investing in mid and small-caps?