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MidCap 100 Index is now trading at 25.9 times one-year forward earnings, compared with 20.2 times for the Nifty. Wood said the valuations should be seen in the context of the acceleration in growth.
Birlasoft: Antique said the deal pipeline remains strong but future signings are uncertain due to the timing of client decisions. The IT firm is looking to execute and maximise signings in the upcoming quarter, it said.
Deven Mehta of Choice Broking said investing 50 per cent in largecap stocks, 30 per cent in midcap stocks, and allocating the remaining 20 per cent in smallcap stocks can be a prudent approach.
Analysts said investors need to be selective while picking midcap stocks following the sharp rally. A couple of them suggested a few midcap stocks that investors can keep an eye on in 2024.
Mid- and small-cap shares were positive as Nifty Midcap 100 climbed 0.08 per cent and small-cap gained 0.33 per cent. India VIX, fear index, fell 2.59% to 12.38-level.