Small-cap, mid-cap shares slide

Many small and mid-cap dropped sharply as the key benchmark indices extended fall for fourth day in a row.

The BSE Mid-Cap index was off 256.94 points or 2.81% at 8,875.24. The BSE Small-Cap index was off 331.86 points or 3.31% at 9,688.11. Both these indices underperformed the Sensex.

The S&P BSE Sensex declined 348.40 points or 1.37% to settle at 25,024.35. The index slumped 394.42 points at the day's low of 24,978.33 in late trade, its lowest level since 23 June 2014. The index jumped 175.58 points at the day's high of 25,548.33 in morning trade.

The CNX Nifty fell 108.15 points or 1.43% to settle at 7,459.60. The index hit a low of 7,447.20 in intraday trade, its lowest level since 23 June 2014. The index hit a high of 7,625.85 in intraday trade.

The market breadth indicating the overall health of the market was weak, with more than three losers for every gainer on BSE. On BSE, 2,217 shares fell and 710 shares rose. A total of 79 shares were unchanged.

Top losers in the S&P BSE Mid-Cap index were Jain Irrigation Systems (down 11.51%), Unitech (down 10.68%), Rashtriya Chemicals and Fertilizers (down 10.33%), Crompton Greaves (down 9.97%), Jaypee Infratech (down 9.21%), Indiabulls Real Estate (down 9.19%), Andhra Bank (down 8.69%), Bajaj Electricals (down 8.49%), National Aluminium Company (down 8.48%) and GMR Infrastructure (down 8.08%).

Top losers in the S&P BSE Small-Cap index were ITI (down 16.46%), National Fertilizers (down 9.61%), Banas Finance (down 9.39%), Alok Industries (down 9.14%), Transport Corporation of India (down 8.67%), Mercator (down 8.56%), PTC India (down 8.46%), Ganesh Housing (down 8.31%), Hindustan Oil Exploration Company (down 8.3%) and SREI Infrastructure Finance (down 8.29%).

Indian stocks slumped today, 11 July 2014 as Thursday's Union Budget 2014-15 lacked any major policy reforms and timeline for reduction of subsidies. The S&P BSE Sensex lost 1,075.73 points or 4.12% in four trading days to settle at 25,024.35 on Friday, 11 July 2014 from recent high of 26,100.08 on Monday, 7 July 2014.

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