Broader markets plummet as Russia-Ukraine crisis escalates; Vix soars 30%

Nifty Smallcap 100 index plunges 6%, extends YTD fall to 17%

If the drop in headline indices was scary, the performance of the broader market was worse. On Thursday, the Nifty Smallcap 100 index dropped 6.3 per cent, entering bear market territory. The index is now down 22 per cent from its 2022 peak.

The Nifty Midcap 100 Index, which also fell about 6 per cent, is on the verge of entering bear market territory, having dropped 18 per cent from its peak. In comparison, the benchmark Nifty is down 12 per cent from this year’s high of 18,477.

And, the bottom may still be some way away as the 30 per cent