Dalal Street minnows small-cap and mid-cap stocks have logged healthy gains of up to 21 per cent this year so far, outperforming their blue-chip peers.
While the gains are more sharper for the mid-cap index which soared 2,371.97 points, or 21.28 per cent, to 13,515.05, small-cap index rose by 1,419.22 points, or 11.98 per cent, to 13,255.93.
On the other hand, the 30-share Sensex went up by 1,964.8 points or 7.52 per cent to 28,082.34.
The mid-cap index hit its all-time high of 13,713.09 on October 6, and the small-cap touched its record high of 13,381.31 on the same day.
The Sensex scaled its 52-week high of 29,077.28 on September 8, 2016.
Earlier in the year, sentiment in the market was hit mostly by volatility in crude oil prices and concerns over the health of the Chinese economy.
However, the post-Budget rally in the stock market in March helped cushion some of the losses.
On monthly basis, the 30-share index has gained since March onwards sans September.
Last year too, the minnows ruled as mid-cap and small-cap stocks beat their blue-chip peers with an average return of up to 7.4 per cent.
In 2015, Sensex fell by 1,381.88 points, or 5 per cent, after gaining nearly 30 per cent in 2014.
Market players say smaller stocks are generally bought by local investors, while overseas investors focus on blue-chips.
The mid-cap index tracks companies with a market value that is on an average one-fifth of blue-chips or large firms. Small-cap firms are almost a tenth of that.