Journals › Market Intelligence
MIDCAP vs LARGECAP: 19 MEIN SE 12 SAAL MIDCAP JEETA — AUR JAB HAARA, BURI TARAH HAARA
Nifty 50 aur Midcap 100 ka saal-dar-saal spread, aur usmein chhupa hua asli risk
Published by The Retail Trader · AUG 07, 2026 · Equities
Har bull market ke beech mein ek hi salaah ghoomne lagti hai: largecap mein kya rakha hai, asli paisa midcap-smallcap mein hai. Aankdon mein ye baat aadhi sach hai — aur jo aadha hissa chhoot jata hai, wahi mehnga padta hai. Humne Nifty 50 aur Nifty Midcap 100 ka har calendar year ka return nikala aur dono ka farq plot kiya.
JEET ZYADA BAAR HOTI HAI
19 calendar years mein se 12 baar Midcap 100 ne Nifty 50 ko peechhe chhoda — lagbhag 63% saal. Aur jab jeeta, to bade antar se jeeta:
Sabse bade midcap-favour spreads:
• 2023 — midcap Nifty se 26.5 percentage points aage.
• 2014 — 24.5 points aage.
• 2009 — 23.2 points aage, crash ke baad ki recovery mein.
• 2021 — 21.9 points aage.
HAAR KAM BAAR HOTI HAI, PAR GEHRI HOTI HAI
Baaki 7 saalon mein midcap peechhe raha, aur do saal to aise the jo poore cycle ka faisla kar dete hain:
Sabse bure do saal, aur wo lagataar aaye:
• 2018 — midcap Nifty se 18.6 points peechhe. Nifty us saal +3.15% tha, Midcap 100 -15.42%.
• 2019 — 16.4 points peechhe. Nifty +12.02%, Midcap 100 -4.32%.
Do saal lagataar underperformance ka matlab ye hua ki 2017 ke top par midcap mein aane wala investor do poore saal tak dekhta raha ki index upar ja raha hai aur uska portfolio neeche. Yahi wo phase hai jahan zyadatar log haar maan kar galat waqt par exit karte hain.
ASLI FARQ RETURN KA NAHI, VOLATILITY KA HAI
Spread ka chart ek baat saaf dikhata hai: midcap ki bars dono taraf largecap se lambi hain. 2009 mein +23 points, 2018 mein -19 points. Yaani midcap zyada return nahi deta — wo zyada har cheez deta hai. Upar bhi zyada, neeche bhi zyada.
Isi wajah se 'midcap zyada return deta hai' wala statement adhoora hai. Wo tab sach hai jab aap uska bura daur jhel paayein. Agar 2018-19 jaisa do-saal ka patch aapko position chhodne par majboor kar deta hai, to aapko midcap ka upar wala hissa milega hi nahi — sirf neeche wala mil chuka hoga.
ABHI KA CHITRA
2026 mein year-to-date (24 July tak) Midcap 100 Nifty 50 se lagbhag 10.9 points aage hai — Nifty -9.04% par hai jabki Midcap 100 +1.88% par. Interesting baat ye hai ki ye outperformance ek girte hue bazaar mein aa rahi hai, jo historically kam hota hai: 2008, 2011 aur 2013 ke girte saalon mein midcap largecap se peechhe hi raha tha.
Ye kya batata hai, iske liye aur data chahiye — aadha saal ek conclusion ke liye kaafi nahi hai. Par ek cheez naapi ja chuki hai: pichhle 19 saal mein midcap ka faayda uthane ke liye average se zyada return nahi, average se zyada dhairya chahiye tha.
Is article ke saare aankde The Retail Trader ke apne daily index database se compute kiye gaye hain, 24 July 2026 tak. Past performance future ka koi indication nahi hai, aur ye analysis sirf educational hai — koi buy ya sell recommendation nahi.