SHARE MARKET TIPS- Small & Midcaps underperform; 20 stocks fell 10-30% in a week

Small & Midcaps underperform; 20 stocks fell 10-30% in a week

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.

India is displaying divergent behavior when compared to the global market. The Wall Street also ended lower on Friday but closed the week with gains. All three major indexes posted gains for the week: the Dow rose 0.4 percent, the S&P 500 gained 0.5 percent, and the Nasdaq added 0.7 percent.

Mixed macro data, the upcoming US Federal Reserve policy meeting on June 18-19, the progress of monsoon, high valuations, the progress of US-China trade talks and retaliatory tariff from India on US goods are some of the factors which weighed on the sentiment. 

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 saw in the S&P BSE Smallcap index.

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