Market observers are wary of larger markets, but analysts are optimistic about these themes. Amidst the current slump in broader markets, investors' wealth was lost by as many as 3,018 second-rung equities in March. The BSE Midcap index fell 4.03% over the same period that the BSE Smallcap index fell 8.27%. Conversely, the main equity index, the BSE Sensex, experienced a mere 0.55% decrease. For the foreseeable future, market observers are wary of the larger markets due to concerns over value.

As many as 389 stocks have seen a decline of more than 20% so far in March. With a fall of 58.42%, Growington Ventures India was the biggest laggard. It was followed by Thinkink Picturez (down 50.91%) and Raghuvansh Agrofarms (down 50.61).

Shree Precoated Steels, Genpharmasec, India Pesticides, IIFL Finance, Innokaiz India, Vaswani Industries, Duke Offshore, SGN Telecoms, Toyam Sports, Santosh Fine-Fab, and UH Zaveri also declined somewhere between 40% and 47% during the same period.

Up to 389 equities have experienced a 20% or more loss thus far in March. Growington Ventures India fell by 58.42%, making it the largest laggard. It was followed by Raghuvansh Agrofarms (down 50.61) and Thinkink Picturez (down 50.91%).

During the same time period, there was a 40%–47% fall in Shree Precoated Steels, Genpharmasec, India Pesticides, IIFL Finance, Innokaiz India, Vaswani Industries, Duke Offshore, SGN Telecoms, Toyam Sports, Santosh Fine-Fab, and UH Zaveri.

Siddhartha Bhaiya, Managing Director and Chief Investment Officer of Aequitas Investments, expressed his opinions about the larger markets by saying, "Small- and mid-caps have gone through a golden four-year period since Covid-19." Large amounts of money have poured into the stock markets as a result of the governments' quantitative easing, to the point where banks have been having difficulty setting deposit rates. Throughout that period, the small- and mid-cap indices have increased 4-4.5, respectively. The markets are currently rife with excesses. We've witnessed a huge number of promoter sales and an abundance of initial public offerings, especially in the SME sector.