Mid, small-caps underperform benchmarks, Omaxe hits 20% lower circuit

Mid- and small-cap indices were trading with deep losses in the morning deals on Friday. The S&P BSE MidCap slipped nearly a per cent or 122 points to 14,733 levels while the S&P BSE SmallCap index slid 80 points or 0.59 per cent to trade at 13,375 levels. In comparison, the benchmark S&P BSE Sensex was trading around 175 points or 0.43 per cent lower at 40,605 levels. 

In the midcap space, HUDCO, RBL Bank, and Indiabulls Ventures declined up to nearly 6 per cent. Other losers included BHEL, NBCC, and Crompton Greaves - all down in the range of 2 -3 per cent. On the flip side, Berger Paints, ICICI Securities and Colgate-Palmolive (India) were the leading gainers on the index - up upto 3 per cent. 

In the smallcap segment, Omaxe was locked in the lower circuit limit of 20 per cent at Rs 144. The stock of real estate company was trading at its lowest level since April 2016. Other counters that witnessed brisk sell-off included Dish TV, Inox Wind, ad Prestige Estate Projects.

Mid- and small-cap indices have continued to underperform the benchmarks thus far in the financial year 2019-20 (FY20). The S&P BSE Midcap index has shed 4 per cent while the s&P BSE Smallcap has lost nearly 10.50 per cent during the period (as on December 5, 2019). In comparison, the S&P BSE Sensex has gained 5.44 per cent, data available with ACE Equity data shows. 

Among individual names, seven stocks from the midcap space have given over 40 per cent returns during this fiscal year. Reliance Nippon AMC has topped the list with nearly 67 per cent gains, followed by Whirlpool Of India (up 58 per cent), Tata Global Beverages (up 55 per cent), Adani Transmission (up 49 per cent), and ICICI Securities (up 42 per cent). 

In the small-cap index, Adani Green Energy has been the top performer with 249 per cent gains, followed by Garden Reach Shipbuilders (up 106 per cent) and Abbott India (up 75 per cent).