In the last 15 days, not just the benchmark indices but the broader market has also performed well. Nifty and Sensex have hit their respective all-time highs and Nifty Midcap index has risen 8 percent and Smallcap index has gained 9 percent since May 15. This is contrary to the trend in the last year during which Nifty spiked 12.5 percent but the midcap index was down 5 percent and the smallcap index had plunged 16 percent. Experts opine that the broader market will continue to buck the trend. "While the benchmark indices are trading at peak valuations, BSE Midcap index is still trading nearly 18 percent below its peak level, which leaves enough room for appreciation," Jayant Manglik, President - Retail Distribution, Religare Broking told Moneycontrol. He said midcap counters with valuation comfort, improving earnings prospects, prudent management, and healthy balance sheet can certainly be considered for investment purposes for mid to long-term investment horizon. Manglik further said that taking a stock specific view rather than timing the markets would certainly be a prudent approach now. Vinod Nair, Head Of Research at Geojit Financial Services has a similar opinion and said since the valuation of mid and small-caps is below the long-term averages, they are bound to outperform. "Broadly, the overall mid and small caps are likely to outperform the market while select bottom-up story and sectors like finance, infrastructure, chemicals, cement and industry oriented can do better," he added. Here are 10 mid and smallcap stock where brokerages initiated coverage with a buy call. Source: Moneycontrol

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Mahindra & Mahindra (M&M) on Monday said M&M Benefit Trust has sold 1.92 crore shares in the company for Rs 1,244 crore to Canada's institutional investor CDPQ on the BSE.

Indian benchmark indices the BSE Sensex and NSE's Nifty50 traded higher in the noon trade on Monday with Sensex at 39,985.42, up 271.74 points or 0.68 percent and Nifty50 at 12,002, up 79.80 points or 0.67 percent.