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The Nifty exceeded the 17,000 mark in August 2021 to reach a record high, after remaining muted over the last two months.
It ended 8.7% higher month-on-month in August to close at 17,132.
The rally was driven by positive Asian cues, strong inflows by foreign institutional investors/domestic institutional investors, and a good end to the Q1 FY22 corporate earnings season.
The Nifty Midcap 100 (up 2.2%, month-on-month) and Nifty Smallcap 100 (down 2.5%, month-on-month) underperformed the markets in August.
In the last 12 months, midcaps have risen 70% versus a 50% rise for the Nifty.
In price/earnings terms, the Nifty Midcap 100 is now trading at a 9% discount to the Nifty.
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