Smaller stocks gain ground as largecaps lose market share

Mid-cap, small-cap and micro-cap stocks have been steadily gaining market capitalisation share at the expense of large-caps. The Nifty Midcap 150 now accounts for 21.4% of total market cap, up from 19% in 2025 and 14.9% in 2020. The Nifty Smallcap 250's share touched a multi-year high of 10.7%, while the Nifty Microcap 250 reached near a multi-year high at 4.4%, underscoring the broadening of the Indian market.