The Nifty Midcap index has posted its lowest return in the last 15 quarters in the three months ended December 2016. The index also gave lower returns than Nifty 50 and Nifty Smallcap indices. The smallcap index slipped 5.8 percent while the large cap fell 5 percent in the third quarter of 2016-17 fiscal. The midcap index posted a negative return of nearly 7 percent. The three major indices extended losses since government's demonetisation move on November 8.
Bharat Financial, Reliance Communications and Mahindra & Mahindra Financial Services were the top three losers which slipped in the range of 26 to 33 percent in the third quarter.
The midcap index has posted lower returns than Nifty 50 index six times in the last 15 quarters, while it has outperformed the benchmark nine times.