More Than 50 Small Caps Down as Much as 22% as Markets End Week Down 2%

Picture Source: Internet

It has been another volatile week for Indian markets, which remained under pressure in the first three sessions as the US banking crisis rippled globally. Markets recovered some of their losses at the end of the week as US authorities moved to limit losses.

The 30-point Sensex lost 1,145.23 points, or 1.93%, to close at 57,989.90 in the week ended March 17. The broad Nifty50 shed 312.9 points, 1.79%, to close at 17,100.

Among broader indices, the BSE smallcap, midcap and largecap indices fell 2.8%, 2% and 1.6%, respectively.

Regarding sectors, the Nifty PSU index fell 4.5%, the auto index fell 4%, the IT index fell 2.3%, and the banking index fell 2%.

The BSE Small Cap Index fell nearly 3%, with Swan Energy, PC Jeweller, GRM Overseas, Brightcom Group, Deep Polymers, Vikas WSP, Rushil Decor, PNB Housing Finance, Future Consumer and Jindal Drilling Industries down 15-22%.

On the other hand, Jain Irrigation Systems, Moschip Technologies, Medplus Health Services, Waaree Renewable Technologies, Zen Technologies, Shiva Cement, Onward Technologies and AYM Syntex rose 10-15%.

Foreign institutional investors (FIIs) turned net sellers this week, selling shares worth Rs 7,953.66 crore, while domestic institutional investors (DIIs) bought shares worth Rs 9,233.05 crore. FIIs and DIIs have bought shares worth Rs 6,408.19 crore and Rs 16,162.40 crore this month.

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