Over 50 smallcap stocks drop 10-50% as broader indices log worst week in 15 months; RailTel, RITES among losers
KPI Green Energy, Spencers Retail, Sigachi Industries, Indo Amines, and others are among the smallcaps that logged a double-digit rise in their share prices last week. Also Read: Dividend Stocks: Oil India, PFC, TVS Motor Company, among others to trade ex-dividend next week; check full list The equity indices ended a four-week winning streak to record the worst week in four months after concerns raised by capital markets regulator Securities and Exchange Board of India (SEBI) over valuation in smallcap and midcap stocks. On the weekly front, the 30-share BSE Sensex benchmark tanked 1,475.96 points or 1.99 per cent, while the NSE Nifty declined 470.2 points or 2.09 per cent.
The small- and mid-cap stocks logged their worst week in 15 months on rising concerns of froth in the segments and as stress test results indicated a disparity in the durations that funds would take to liquidate their portfolios. The broader indices dropped 5.5 per cent and 4.66 per cent this week, the biggest weekly drop since December 2022. Barring information technology, all the major sectors logged weekly losses.
Realty, energy and public sector banks were the worst hit, losing between 6.5 per cent and 10 per cent. Bank Nifty settled the week at 46594.10 after falling more than 2.50 per cent. Foreign institutional investors (FIIs) were buyers for three out of four sessions last week but the net outflow stands at ₹816.91 crore, while domestic institutional investors (DIIs) were buyers for all sessions, with a total investment of ₹14,147.5 crore, according to stock exchange data.
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