In the smallcap
space, 63 stocks fell 10-30 percent, which include names like Future Consumer,
Ballarpur Industries and Kellton Tech Solutions.
Persistent selling by foreign
institutional investors on D-Street pulled the benchmark indices below their
respective support levels in the week gone by. The S&P BSE Sensex failed to
hold on to 38,000 while the Nifty50 closed below 11,300 levels.Foreign institutional
investors (FIIs) pulled out more than Rs 7,000 crore from the cash segment of
Indian equity markets while, for the month, they have pulled out more than Rs
14,000 crore.Apart from persistent selling by FIIs, muted corporate earnings
growth from India Inc., concerns over a slowdown in the Indian economy,
below-normal monsoon, trade talks as well as geopolitical concerns weighed on
sentiment.The S&P BSE Sensex lost 1.19 percent while the Nifty50 saw a dip
of 1.18 percent for the week ended July 26. But, the bigger fall was seen in
the broader market. The S&P BSE Smallcap index dropped 1.88 percent while
the S&P BSE Midcap index closed 1.58 percent lower.As many as 29 stocks in
the S&P BSE 500 index fell 10-20 percent which include names like Jet
Airways, Vinati Organics, GRUF Finance, VIP Industries, CARE Ratings, Vodafone
Idea, Bajaj Electricals, Mcleod Russel, and Cox & Kings, etc. among others.
Comments
Post a Comment