Turbulence in broader market continues; Small-cap index hits 32-month low

Midcaps and small-cap stocks continued to suffer with both the indices slipping to over two-year low levels on the BSE on Friday amid weak earnings and slowdown concerns. The S&P BSE Smallcap index hit its 32-month low, while the midcap index touched 30-month low in intra-day deal today.

The smallcap index touched 11,951 levels, its lowest level since December 29, 2016, while the midcap index hit a low of 12,915, its lowest level since February 1, 2017.

The Smallcap index (down 5 per cent) and midcap index (down 4.3 per cent) have lost more than 4 per cent thus far in the current week and are set to post their respective biggest weekly falls in 11 months. In comparison, the S&P BSE Sensex was down 3 per cent.

During the week ended September 30, 2018, the smallcap index had tanked 8.5 per cent, while the midcap index had plunged 5 per cent, as compared to 1.7 per cent decline in the benchmark index.

Banks, financial services, and metals cracked the most as foreign investors' selling spree expanded so much so that even big buying by domestic mutual funds failed to stem the fall as sentiment turned weak. Besides foreign portfolio investor outflows and rise in global crude oil prices also weakened the sentiment.

A total of 50 stocks from the mid-and-smallcap indices hit their respective all-time lows on the BSE. This includes PNB Housing Finance, Housing and Urban Development Corporation (HUDCO), Reliance Infrastructure, Reliance Power, Khadim India, Lovable Lingerie, DB Corp, Manpasand Beverages and Parag Milk Foods.

At 10:38 am, the Midcap index had erased its entire 1.3 per cent or 228 points fall and was trading 0.48 per cent or 63 points higher at 13,143. Smallcap index, too, recovered 160 points from its early morning low and was trading flat at 12,111 level.

COMPANY	LATEST	ONE-WEEK BEFORE	LOSS(%)
CG POWER & INDU.	9.60	17.95	-46.5
H D I L	6.33	11.28	-43.9
RELIANCE CAPITAL	32.85	48.40	-32.1
OSWAL GREEN TECH	7.25	10.61	-31.7
AKSH OPTIFIBRE	5.63	7.85	-28.3
M T N L	4.61	6.35	-27.4
RATTANINDIA INFR	1.20	1.62	-25.9
EDELWEISS.FIN.	99.70	134.00	-25.6
ARSHIYA	15.75	20.90	-24.6
THOMAS COOK (I)	127.25	167.40	-24.0
SHREYAS SHIPPING	66.25	87.00	-23.9
JET AIRWAYS	31.25	40.25	-22.4
SIMPLEX INFRA	51.40	66.00	-22.1
COX & KINGS	5.40	6.93	-22.1
CONFIDENCE PETRO	20.25	25.95	-22.0
RELIANCE NAV.ENG	1.16	1.48	-21.6
ITI	59.25	75.20	-21.2
RUCHI SOYA INDS.	4.36	5.51	-20.9
INOX WIND	33.20	41.95	-20.9
SINTEX PLASTICS	2.99	3.77	-20.7
GODAWARI POWER	137.00	172.55	-20.6
MINDA CORP	68.10	85.75	-20.6
INOX WIND	33.55	41.95	-20.0
SEAMEC LTD	301.00	376.05	-20.0
PARAG MILK FOODS	136.75	170.00	-19.6
V2 RETAIL	97.80	121.35	-19.4
REL. COMM.	1.00	1.24	-19.4
GTL INFRA.	0.46	0.57	-19.3
RELIANCE INFRA.	37.60	46.25	-18.7
RELIANCE POWER	2.88	3.54	-18.6
MERCATOR	1.36	1.67	-18.6
SHIVA CEMENT	6.85	8.41	-18.6
CAPACIT'E INFRA.	180.00	220.80	-18.5
ESTER INDS.	32.60	39.85	-18.2
GAYATRI PROJECTS	109.10	133.25	-18.1
MANPASAND BEVER.	16.50	20.15	-18.1
INDBULL.REALEST.	65.75	80.15	-18.0
VIKAS ECOTECH	3.57	4.34	-17.7
UJAAS ENERGY	3.75	4.55	-17.6
STERLITE TECH.	116.50	141.25	-17.5
RAMKRISHNA FORG.	335.00	405.45	-17.4
ZEE MEDIA	8.80	10.65	-17.4
SPECIALITY REST.	58.30	70.40	-17.2
ESSEL PROPACK	81.50	98.40	-17.2
INDIAN TERRAIN	70.00	84.50	-17.2
ROYAL ORCH.HOTEL	54.60	65.80	-17.0
BPL	14.15	17.05	-17.0
INDIABULLS INTEG	87.10	104.55	-16.7
PC JEWELLER	28.10	33.70	-16.6
GIC HOUSING FIN	164.00	196.40	-16.5
3I INFOTECH	1.67	2.00	-16.5
HEALTH.GLOBAL	102.85	123.15	-16.5
NCC	52.10	62.35	-16.4
JBF INDS.	6.52	7.80	-16.4
INDO RAMA SYNTH.	25.25	30.20	-16.4
ACTION CONST.EQ.	53.35	63.75	-16.3
TVS ELEC.	104.40	124.75	-16.3
WEIZMANN FOR.	302.55	361.10	-16.2
SORIL INFRA	89.25	106.45	-16.2
PANACEA BIOTEC	121.20	144.40	-16.1
WALCHAN. INDS.	54.00	64.25	-16.0
T B Z	31.30	37.20	-15.9
R C F	37.50	44.45	-15.6
I T D C	155.25	184.00	-15.6
S A I L	30.50	36.15	-15.6
MUKAND	28.95	34.25	-15.5
NILA INFRASTRUCT	4.28	5.06	-15.4
HBL POWER SYSTEM	14.00	16.55	-15.4
MIRC ELECTRONICS	10.70	12.64	-15.4
AJMERA REALTY	101.20	119.55	-15.4
K E C INTL.	245.10	289.30	-15.3
RELIANCE HOME	5.96	7.03	-15.2
VETO SWITCHGEARS	44.60	52.60	-15.2
J KUMAR INFRA	115.00	135.50	-15.1
LINCOLN PHARMA.	136.00	160.10	-15.1
PRABHAT DAIRY	54.25	63.85	-15.0