Market Wrap: Smallcap index falls 3.84%, Midcap index tanks 2.75% as Indian Stock Market extends weakness

If you are an Indian Stock market investor, you might be scared to look at your portfolio these days. That’s because the markets have been correcting sharply in the past two months and there seems to be no respite yet. Nifty fell 1.14% to close at 22,829 while the Sensex closed 824 points (1.08%) down at 75,366. The Smallcap index was down 3.84% or 651 points to close at 16,304 and the Midcap index cracked 2.5% or 1467 points to close at 51,795. The broader market was also very weak at the NSE as 2203 stocks were in the red while only 234 were in the green. India VIX, an indicator of volatility, was 8.27% up at 18.13.

In the Nifty, , Britannia, Hindustan Unilever, and ICICI Bank were the top gainers as they were up 1.71%, 1.32% and 0.64% respectively. On the other hand, JSW Steel, Shriram Finance, and Bharat Electronics Limited (BEL) were the worst performers, as they lost 2.37%, 2.33%, and 2% respectively.

In the IT pack, HCL Technologies fell 4.59%, Tech Mahindra dropped  4.18%, and Wipro fell by 3.78%. In the Nifty 500, Anant Raj was down 16.97%, Laurus Labs fell 12.84% and Caplin Point fell 11.81%. Talking about the gainers, Bank of India was 5.54% up, IDBI was 3.79% up and Sobha Limited was 3.22% up.