Investors have remained in selling mode for the past two months due to the unexpected rise in positive coronavirus cases leading to lockdowns across the world.

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Now the trend seems to be moving towards the bears as broader and benchmark indices were positive over the past month.

Despite cracking 23 percent in 2020, following the global market selloff; the midcap index has recovered and risen by nearly 7 percent in the last month. Meanwhile, benchmark indices were also up 5 percent during the period.

The BSE Midcap index gained around 7 percent with 65 percent of its constituents in the green. Stocks like Glenmark Pharma, NBCC, Indraprastha Gas, Biocon, and KIOCL rose the between 30 to 50 percent.

Other gainers included Godrej Agrovet, LIC Housing Finance, Amara Raja Batteries, IDFC Firdt Bank, Tata Global Beverages, Info Edge, Torrent Pharma, MRPL, and Shriram Transport Finance also rose over 20 percent each.

Analysts have remained cautious and are of the view that the unabated spread of COVID-19 would result in the global economy growing at the slowest pace in a decade. Morgan Stanley said that the longer COVID-19 lasts, the larger the impact would be on global growth. In particular, the disruption in supply chain is the key factor in assessing the impact on global growth.

For global brokerage Jefferies, Supreme Industries, Kajaria Ceramics, and V-Guard Industries have been the top midcap picks during the mayhem. It believes that Havells is a multi-year story.

Meanwhile, losers included Cholamandalam Finance, RBL Bank, Future Retail, Aditya Birla Fashion, Shriram City Union, M&M Financial, and TVS Motor Company, which are down over 15 percent each.