Small, midcap stocks fall up to 11% amid broad-based selling: Hind Copper, HPCL among top losers

Broader markets fall

• Smallcap and midcap stocks dropped sharply on January 8 amid market selloff.
• Nifty Smallcap 100 dropped 1.6 percent; Nifty Midcap 100 fell 1.5 percent
• FII selling and tariff concerns impacted market sentiment

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The shares of several smallcap and midcap stocks declined in trade on January 8, as broader markers accompanied the benchmark indices amid a wider selloff.

The sharp fall in the share prices pushed the Nifty Smallcap 100 index down nearly 1.6 percent to 17,673.30, as seen at 1.30 pm. The Nifty Midcap 100 index meanwhile fell around 1.5 percent to 60,525.20.

Notably, the broader markets had outperformed benchmarks yesterday, closing in the green while Sensex and Nifty ended the session in the red.

FII selling and chances of Trump imposing 500 percent tariffs on India were among the key factors impacting markets today. “Market sentiment continued to be shaped by mixed global cues and lingering geopolitical concerns, which kept risk appetite in check,” said Ajit Mishra – SVP, Research, Religare Broking.

"In the absence of strong domestic triggers, trading activity remained largely stock-specific, with participants adopting a wait-and-watch approach ahead of upcoming earnings announcements and key macro developments," he added.

Top smallcap losers today:

Signatureglobal (India) shares fell nearly 11 percent, while Hindustan Copper shares dropped around 5 percent, tracking the sharp fall in metal prices. Jupiter Wagons, JBM Auto and Piramal Pharma shares fell more than 4 percent each.

HBL Engineering and Jindal Saw shares dropped nearly 4 percent each, while Ola Electric Mobility, Natco Pharma, KEC International and Welspun Corp shares fell over 3 percent each.

Other notable smallcap losers included IRCON, Wockhardt, Inox Wind, Anant Raj, Chambal Fertilisers, NBCC, Mangalore Refinery and Petrochemicals, NCC, Radico Khaitan, Angel One, Bandhan Bank, MCX, CESC, CDSL, Reliance Power and others.

Top midcap losers today:

National Aluminium Company (NALCO) shares were the top midcap losers on the index, falling nearly 5 percent as aluminium prices declined. Hindustan Petroleum Corporation (HPCL) shares also fell around 5 percent.

NMDC shares dropped more than 4 percent, while Indian Bank and HUDCO shares fell around 4 percent each. Rail Vikas Nigam (RVNL), BHEL, Yes Bank, Union Bank of India, Steel Authority of India (SAIL) and Indian Renewable Energy Development Agency (IREDA) shares dropped around 3 percent each.

Suzlon Energy, Sona BLW Precision Forgings, Muthoot Finance, Bank of India, Tata Tech, Voltas, Torrent Power, Fortis, CONCOR, Swiggy, ITC Hotels, Nykaa, Mankind Pharma, Bharat Forge, Coforge, Tata Elxi and other midcap stocks fell more than 2 percent each.'

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