
Predicting the movement of the Nifty and Sensex is a fool’s task. Thursday’s trading on the market only underlines this truism. And it is in times of uncertainty that we tend to gravitate towards large-cap stocks because, over the long term, they do create wealth. But there is one more, equally compelling, reason why they should be preferred to mid- and small-cap stocks, especially in a phase where there is a time-wise correction – the kind where markets do not fall sharply but simply refuse to move higher for extended periods.