INDIA STOCKS-India’s Nifty, Sensex subdued; small, mid-caps extend record run

Indian benchmark indexes inched lower on Thursday, weighed by worries that U.S. interest rates will remain higher for longer, while domestic focussed small and mid-cap indexes continued their record run. "There is froth in the small-cap segment, which is driven by momentum," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Small and mid-cap stocks have risen about 31% and 28%, respectively so far this year compared with 8% gains in benchmark indexes.