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D-Street's smallcap rally fades as cautious foreign investors flee
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BSE Ltd.’s small and mid-cap indexes fell 1.7% and 3.4%, respectively, in the latest month. The declines came as overseas funds sold $2.6 billion of Indian equity in October, on a net basis, their biggest withdrawal since January.
The small- and mid-cap gauges are still up more than 20% this year, outpacing the 5% rise in the benchmark S&P BSE Sensex.
The flight to safety amid rising interest rates and the threat of recessions has hit smaller growth stocks and emerging markets particularly hard. With some local uncertainty ahead of India’s national elections next year, traders may also have been tempted to take profits.
About this in other media
Midcaps, smallcaps too hot; investors should have a large-cap tilt right now, says Varun Fatehpuria of Daulat Finvest livemint.com /1 year ago
Big Movers on D-Street: What should investors do with TCS, PB Fintech & Kalyan Jewellers? economictimes.indiatimes.com /1 year ago
MFs shunned these 10 mid, smallcap stocks for 3 months in a row; what should investors do? economictimes.indiatimes.com /1 year ago
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