The current calendar year has seen the India VIX, which measures volatility, rise by over 50 per cent. Large cap stocks have outperformed small- and mid-cap stocks with the NSE Nifty 50 Index rising over 3 per cent during the same time. The 50-stock gauge also trades at 21.7 times one-year forward earnings as per analyst estimates while the 5-year average stands at 23.2 times. The Nifty Midcap Index has declined 17 per cent in 2018 with its one- year forward price-to-earnings multiple quoting at
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