BSE Midcap index set for worst monthly fall in 18 months

The BSE Midcap index has declined 5.7% thus far in May 2018. In comparison, the S&P BSE Small-cap index has lost 5.6%

The adage – Sell in May and go away – has proven correct this time around for stocks in the mid-cap segment with the S&P BSE Midcap index set to post its worst monthly fall in past 18 months. The performance comes on the back of sharp decline automobiles, pharmaceutical, capital goods and financial sector stocks.

The BSE Midcap index has declined 5.7 per cent thus far in May 2018. In comparison, the S&P BSE Small-cap index has lost 5.6 per cent, while the benchmark S&P BSE Sensex has slipped 0.6 per cent.

Earlier in November 2016, the midcap index