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Mid-, small-cap cos drop in flat market
September 13, 2023
|Mint Mumbai
A sharp selloff in the midcap and small-cap space caught investors off guard on Tuesday.
The mid-cap and small-cap indices saw steep corrections of 3-4% during the day even as the Nifty ended just 0.02% lower but not before scaling the all-time high of 20110.35.
Valuation discomfort is likely to have set in after a sharp rally, which is leading to heavy selling in mid-caps and smallcaps, said analysts.
"As expected, we have witnessed some weakness in small and mid-cap stocks today and a rotation into defensives, especially tech, following the recent exuberance in the broader markets," said Pranav Haridasan, managing director and chief executive officer, Axis Securities Ltd.
هذه القصة من طبعة September 13, 2023 من Mint Mumbai.
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