Midcap index fell 0.99 per cent and the smallcap index ended with a loss of 0.98 per cent. Commenting on today's market performance, Vinod Nair, Head of Research at Geojit Financial Services said, "Domestic market declined following a hawkish stance by the Fed chair and prolonged high interest rate trajectory which is not positive for a slowing global economy.
PSU Banks and mid and smallcaps were the worst hit due to stretched valuations and concern over moderation in yields. Rising oil prices and erratic rainfall further led investors to stay cautious in the market,'' added Nair.
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