A look at the top midcap and small-cap picks for May by Axis Securities

Indian markets declined around 2 percent in the month pf April. However, the midcap and smallcap outperformed largecaps during the month. The Nifty Midcap remined in the green and rose 0.6 percent during the Month while the Nifty Smallcap index fell around 1.5 percent. Though some recovery was seen in the equity market after a major selloff on February 24, 2022, the trend is likely to be range-bound moving forward, Axis Securities said in a recent note. Going ahead, macroeconomic factors and Q4FY22 earnings commentaries will play a pivotal role in driving the market fundamentals moving forward. Let's look at Axis' top midcap and smallcap picks for May: