What multiple voices screaming about high valuations could not do all this while, a rise in US bond yields and a weakening rupee have done in two weeks: Correcting the mid-cap segment. Unlike the past few months, which saw rotational profit-booking, this time the correction is taking place across the board. How long this phase continues will depend on multiple factors. From how the flows to mid-cap funds shape up, to macroeconomic factors like oil prices and the rupee’s movement. If the Nifty witnesses any more correction, the mid-caps may lead the way once again.
