The shares of smallcap companies recorded notable decline on August 14, snapping a three-day gaining streak. The sharp fall in the share prices pushed the Nifty Smallcap 100 index down nearly half a percent to 17,532 in the afternoon.
Midcap stocks also declined sharply, pushing the Nifty Midcap index down in the red. The broader markets are underperforming the benchmark indices Sensex and Nifty, which are currently hovering in the green despite seeing sharp ups and downs.
This comes as investors await Russia-US talks on the war in Ukraine. US President Donald Trump and his Russian counterpart Vladimir Putin are set to discuss a possible deal to end the war in Ukraine when they meet on August 15. The talks are being closely watched by Indian investors after Washington imposed an additional 25 percent tariff on Indian goods allegedly over New Delhi's Russian oil imports.
"Any breakthrough from these engagements could raise hopes for the removal of secondary tariffs ... and support domestic market sentiment," Siddhartha Khemka, head of research of wealth management at Motilal Oswal Financial Services, told Reuters.
Bata India was the top loser on the smallcap index, dropping nearly 5 percent to trade at Rs 1,044 apiece. The company on August 12 reported a 70 percent decline in consolidated net profit to Rs 52 crore in the first quarter ended June 30, 2025.
Brigade Enterprises shares followed, dropping nearly 4 percent to trade at Rs 931 apiece. ITI and Natco Pharma shares fell over 3 percent each, while NBCC, Garden Reach Shipbuilders & Engineers (GRSE), MCX and Devyani International shares fell over 2 percent each.
KEC International, IRCON, BEML and Hindustan Copper shares dropped over 1 percent each.
On the midcap index, Max Healthcare Institute was the top loser, falling nearly 4 percent to trade at Rs 1,221 apiece. Vodafone Idea shares followed, dropping 3.3 percent to trade at Rs 6.15 apiece. The telecom major is set to release its results for the first quarter of FY26 today.
NMDC, NHPC and SAIL shares were down around 3 percent each, while Apollo Tyre, Waaree Energies, CONCOR, IDFC First Bank and NALCO shares were down 2 percent each.
Torrent Power, Indus Tower, Oil India, BHEL, Paytm and several other midcap stocks were down up to 2 percent.
Also read: Our LIVE blog on stock market updates
(With inputs from agencies)
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