India’s equity markets have remained highly volatile for quite some time. While the benchmark NIFTY 50 is down nearly 8% from its 52-week high, the NIFTY Midcap 150 continues to trade close to record levels, suggesting resilience beneath the surface.Yet, a closer look reveals a very different picture. Several midcap stocks have suffered steep declines, falling sharply from their 52-week highs even as the broader index remains near its peak. Here, we highlighted 14 of the biggest laggards, with losses ranging from 30% to as much as 55% from their respective highs. (Data Source: ACE Equity) ​Midcap illusion