Sensex fall 1.8 percent; Small & midcaps underperform:Weekender report
Global cues turned negative following a spike in US bond yields and a surge in COVID-19 cases across the globe, including India, leading to some bit of profit-taking at higher levels.
image for illustrative purpose
Global cues turned negative following a spike in US bond yields and a surge in COVID-19 cases across the globe, including India, leading to some bit of profit-taking at higher levels.
A volatile week for Indian markets as every rise was being sold into but the bulls managed to gain some control on March 19 after days of selloff. Both the Sensex and the Nifty50 closed below their crucial support levels, raising concerns about a fresh selloff in the coming week.
The Sensex fell 1.8 percent, while the Nifty was down 1.9 percent for the week ended March 19 but it was the small & midcap space that saw a carnage. The BSE midcap was down 2.59 percent, while the smallcap index closed with losses of 3.4 percent for the week ended March 19.
As many as 31 stocks in the BSE500 index fell 10-30 percent. These include Raymond, Tata Coffee, IDBI Bank, Dish TV, Tanla Platforms, Bank of India, Future Retail, and Bliss GVS Pharma.
