Over 100 smallcap stocks see double-digit fall in a week amid market correction
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Domestic markets are in a correction phase with benchmark indices, Nifty and Sensex, falling around 10% from the peak. The weakness in second quarter results and sustained outflow of foreign funds weighed on the sentiments. During the week, as many as 103 smallcap stocks have delivered double-digit negative weekly returns with four of them falling over 25%. Kopran Ltd was the top loser in the smallcap pack with 26% decline, followed by Globus Spirits (-23%), Antony Waste (-21.7%), and BASF India (-21.1%). About 98 stocks including CE Info Systems, Tanfac Industries, RK Swamy, Greaves Cotton, Hitachi Energy, Motisons Jewellers, IIFL Capital Services, Valiant Organics, Raju Engineers, Suraj Estate Developers among others have dropped between 10-20% during the week. Only 8 smallcap stocks gained in double-digits in the reporting period with Pix Transmissions and JSW Holdings being the top gainers. In the midcap segment, no stocks delivered d...