Small, Mid-Cap Indices Underperform Benchmarks: Here Are The Worst Performers
The Nifty Midcap 150 index fell 1.57%, and the Nifty Smallcap 250 dropped 1.93%, reflecting broader investor nervousness outside the frontline stocks.
Thursday was another tough day on Dalal Street as the equity market extended its losing streak to a third straight session, with broader markets taking the bigger hit. While the benchmark NSE Nifty 50 managed to slip just 0.08%, it was a different story in the mid- and smallcap segments, where the pain was sharper.
The Nifty Midcap 150 index fell 1.57%, and the Nifty Smallcap 250 dropped 1.93%, reflecting broader investor nervousness outside the frontline stocks.
Midcap laggards were led by Grindwell Norton Ltd., which sank 4.54%, followed closely by Linde India Ltd. and RVNL Ltd., each down over 4%. Indian Renewable Energy Development Agency Ltd. and Supreme Industries Ltd. also saw losses of nearly 4%.
The smallcap segment wasn't spared either. Minda Corp. dropped 5.14%, Prince Pipes and Fittings Ltd. slipped 5.02%, and Cyient Ltd. was down nearly 5%. Finolex Industries Ltd. and Intellect Design Arena Ltd. each fell over 4.8%, continuing the pressure in the broader market.
Meanwhile, the Nifty 50 ended the day down 18.8 points at 24,793.25, and the Sensex closed 82.79 points lower at 81,361.87, dragged largely by heavyweights in the Adani and financial packs.
Adani Ports and Special Economic Zone Ltd. extended its slide, ending 2.52% lower at Rs 1,338 apiece. Bajaj Finance Ltd. fell 2.01% to Rs 900.50, and Adani Enterprises Ltd. dropped 1.57% to Rs 2,420.60. Coal India Ltd. and Tech Mahindra Ltd. also featured among the top drags on the index.
