Nifty Midcap 100 suffers sharp decline of over 6,000 points; BEL, Container Corp, SAIL plunge up to 28%
Also Read: Markets down 5%: Here's how Nifty has performed on previous election result daysThis political uncertainty has led to a sharp market downturn, with investors re-evaluating their positions in response to the unfolding political landscape. The shift in sentiment has underscored the market's sensitivity to political developments and the crucial role of stability in maintaining investor confidence.
Apart from the front-line indices Nifty 50 and Sensex, which have dropped 7% each in today's trading session, mid- and small-cap stocks also took a large beating during the trade.The Nifty Midcap 100 index plunged 6,106 points, or 11.44%, to reach a 11-week low of 47,246 points. Leading the declines were Bharat Heavy Electricals, which plummeted 28%, and Container Corporation of India, which saw a 25% drop in its shares.
SAIL also fell by nearly 25%.UCO Bank experienced a 20% decline, and other mid-cap stocks such as JSW Energy, Mazagon Dock Shipbuilders, and Hindustan Petroleum Corporation also saw significant drops. Additionally, HDFC Asset Management Company and LIC Housing Finance each declined by 14%.Similarly, the Nifty Smallcap 100 index fell 12.46% in today's trade, with all stocks trading in the red.
Jammu & Kashmir Bank led the decline, plunging 20%. Also Read: SBI share price tanks 19% amid stock market crash.
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