Many small and mid-cap dropped sharply as the key benchmark indices tumbled in late trade after hitting record high in early trade.
The BSE Mid-Cap index was down 346.93 points or 3.63% at 9,210.21. The BSE Small-Cap index was down 442.77 points or 4.19% at 10,128.01. Both these indices underperformed the Sensex.
The S&P BSE Sensex was down 517.97 points or 1.98% to 25,582.11. The index dropped 605.04 points at the day's low of 25,495.04 in late trade, its lowest level since 1 July 2014. The index rose 90.36 points at the day's high of 26,190.44 in early trade, a lifetime high of the index.
The CNX Nifty was down 163.95 points or 2.11% to 7,623.20. The index hit a low of 7,595.90 in intraday trade, its lowest level since 30 June 2014. The index hit a high of 7,808.85 in intraday trade, a lifetime high of the index.
The sharp decline on the bourses came after Railway Budget 2014-15 was tabled by Railway Minister Sadananda Gowda in Lok Sabha. The sharp slide on the bourses comes just two days ahead of the presentation of the Union Budget for 2014-15 on Thursday, 10 July 2014.
The market breadth indicating the overall health of the market was weak, with more than two losers for every gainer on BSE. On BSE, 2,234 shares declined and 770 shares rose. A total of 92 shares were unchanged.
Top losers in the S&P BSE Mid-Cap index were Unitech (down 12.54%), HMT (down 11.31%), India Cements (down 9.73%), Gujarat Gas Company (down 9.67%), IFCI (down 9.47%), MMTC (down 9.3%), Syndicate Bank (down 8.94%), Oriental Bank of Commerce (down 8.91%), Jain Irrigation Systems (down 8.54%) and JSW Energy (down 8.48%).
More From This Section
Top losers in the S&P BSE Small-Cap index were Texmaco Rail and Engineering (down 19.84%), Texmaco Infrastructure & Holdings (down 17.39%), Jindal Stainless (down 13.05%), Jayaswal Neco Industries (down 12.44%), Luminaire Technologies (down 11.78%), Mangalam Cement (down 11.18%), Aditya Birla Chemicals (down 11.03%), Diamond Power Infrastructure (down 10.69%), IFB Industries (down 10.68%) and Astra Microwave Products (down 10.36%).
The S&P BSE Mid-Cap index had outperformed the market over the past one month till 7 July 2014, rising 5.04% compared with the Sensex's 2.77% rise. The index also outperformed the market in past one quarter, jumping 33.38% as against Sensex's 16.81% rise.
The S&P BSE Small-Cap had outperformed the market over the past one month till 7 July 2014, rising 8.15% compared with the Sensex's 2.77% rise. The index also outperformed the market in past one quarter, jumping 45.18% as against Sensex's 16.81% rise.
Powered by Capital Market - Live News