A morning walk down Dalal Street | Decisive range breakout is necessary to commence next leg of rally
Episode 1318, Jun 17, 2019, 01:30 AM
Benchmark indices might have moved in a narrow range, but the big carnage was seen in the small & midcaps which fell up to 30 percent in five trading sessions.
Indian markets ended the week on a negative note with cash strap, and debt-laden companies bear the brunt of brutal sell-off. The sell-off intensified on Friday afternoon on news reports that India would impose retaliatory tariffs on US goods.
The S&P BSE Sensex fell 0.4 percent compared to 1.2 percent fall seen in the S&P BSE Midcap and about 2 percent drop seen in the S&P BSE Smallcap index.
The S&P BSE500 index which represents nearly 93 percent of the total market capitalization on the BSE fell 0.7 percent in the same period.
The fall in the index was led by stocks from both Small & Midcap space which include names like The Lakshmi Vilas Bank, Indiabulls Real Estate, Dilip Buildcon, Jaiprakash Associates, Reliance Power, Yes Bank, Reliance Capital, and Jet Airways among others.