Based on the eventful election result day this week, I have compiled the performance data of different indices. Here are some interesting insights.
- The Nifty 50 index fell by 5.8 per cent, while the pure mid and small cap indices – Nifty Midcap 150 and Nifty Small Cap 250 fell sharper by around 7 per cent.
- Nifty Next 50, although a large cap index, fell more than even the mid and small cap indices.
- The fall in broad based large cap index Nifty 100 (Nifty 50 +Nifty Next 50) was restricted to 6.5 per cent due to Nifty 50.
- The highly diversified Nifty 500 (around 70 per cent large cap weighted) fell almost the same as Nifty 100, by 6.7 per cent.
- Another index which fell the most was factor investing themed, Nifty 200 momentum 30. It fell by 9.7 per cent. While it is likely to out perform in bull markets, it also falls sharply during downturns.
- Amidst the other factor investing funds – the quality themed funds like Nifty 100 Quality Index, Nifty Midcap 150 Quality 50 Index and Nifty Small Cap 250 Quality 50 Index fell lesser than their usual counterparts.