Party at Dalal Street, but there are some latecomers

On December 1, 2022, Sensex, the benchmark index of BSE, hit its all-time high of 63,284, a 2.5 per cent jump from its previous all-time high of 61,766 on October 18, 2021.

However, it seems like some didn't get the memo.

What does the data say
Only seven companies from the index touched their 52-week high between November 1, 2022, and December 1, 2022. And only half of the index's constituents have hit their all-time high since December 1, 2021.

BSE 500
The BSE 500 Index is up 0.9 per cent from its prior all-time high and closed at 25,497 on December 1, 2022. Twenty-three companies have more than halved, and all the five hyped-up IPOs (Zomato, Nykaa, Policybazaar, PayTM and Delhivery) from last year are down more than 50 per cent from their 52-week highs.

BSE Midcap Index
The BSE Midcap Index, consisting of 122 companies, is down 3.1 per cent as on December 1, 2022, from its prior all-time high of 26,952 on October 18, 2021. Only 18 per cent of the companies are at a distance of five per cent from their 52-week high.

BSE Smallcap Index
BSE Smallcap Index is down 4.6 per cent as on December 1, 2022, from its prior all-time high of 31,140 on January 17, 2022. Out of its 956 constituents, 91 per cent are below their 52-week highs by more than five per cent.

To sum up
While the juggernauts have joined the Sensex in its rally, many of the mid-cap and small-cap constituents are lagging behind. If you are heavily exposed to midcap and smallcap companies, patience is the need of the hour.