Smallcap, midcap stocks hit brakes after record rally; broader market indices snap 6-day gaining streak

Sensex closed over 800 points lower at 81,227.42, while Nifty dropped over 1 percent to 24,690.

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26 Aug, 2025 12:21

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Broader market indices tumbled into the red, snapping a record rally which extended for six consecutive sessions. The Nifty Smallcap index dropped 0.94 percent to close at 17,483, while the Nifty Midcap index fell nearly 1.6 percent to end the session at 56,182.65.

The broader market indices have more or less mirrored the downturn in the benchmark indices, after several days of outperforming them. Sensex closed over 800 points lower at 81,227.42, while Nifty dropped over 1 percent to 24,690.

Notably, the sharp fall in the smallcap and midcap stocks may come as investors resort to profit booking at heightened prices. The earlier sharp rally in smallcap stocks was more pronounced, with market capitalization of the smallcap index rising by over Rs 1.9 lakh crore during the past six sessions.

RITES shares were the top loser on the smallcap index, dropping over 6 percent to trade at Rs 276.55 apiece. Data Patterns shares followed, plunging over 5 percent. Railway stocks Titagarh Rail Systems and RailTel Corporation of India meanwhile fell nearly 5 percent each.

Other notable smallcap stocks which recorded strong losses include Sagility, NBCC, HFCL, BEML, Garden Reach Shipbuilders and Engineers (GRSE), Chambal Fertilisers, Bata India, Anant Raj, MCX, Laurus Labs, PVR Inox, First Cry, NCC, Kaynes Tech, Welspun Corporation and more.

Among the midcap stocks, Cochin Shipyard was the top loser. The shares of the company dropped nearly 8 percent to close at Rs 1,824 apiece. Notably, this comes as defence stocks saw a significant fall, extending losses for a second consecutive session as investors resorted to profit booking after the recent record run.

Rail Vikas Nigam Limited (RVNL), HUDCO, Bank of Maharashtra, Lupin, Premier Energies and Bandhan Bank followed, dropping over 3 percent each.

Other notable midcap stocks which recorded strong losses include Colgate Palmolive, IGL, Vodafone Idea, Godrej Properties, IREDA, CONCOR, Motilal Oswal Financial Services, Biocon, Paytm, Bharat Dynamics and more.