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The midcap index made a comeback in the second quarter of financial year 2016-17, outperforming the Nifty 50 index and the Nifty Small Cap index for the first time in four quarters. The index posted a gain of nearly 12 percent, the highest in 9 quarters.
Jubiliant Life Sciences led the rally, with a 96 percent gain in the July to September period. Giving it company were three tyre stocks – Ceat, MRF and Apollo Tyres. All three gained between 45 to 58 percent.
The mid cap index has been outperforming the Nifty 50 consistently, beating the benchmark index 8 out of the last nine quarters.
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