Mid, Smallcap indices slip over 5%; SpiceJet hits 10% lower circuit

Speciality Restaurants, Kirloskar Ferrous, RPP Infra, Chennai Petroleum, Rane Holdings, Shalimar Paints, RK Forgings and Safari Industries from the smallcap index tumbled over 10%

Shares of mid-and-smallcap companies were under severe pressure on Monday, with the S&P BSE Midcap and S&P BSE Smallcap indices slipping over 5 per cent as investors booked profits after European markets opened with sharp cuts.

At 02:33 pm, the S&P BSE Midcap index and the S&P BSE Smallcap index were down 5.4 per cent each, as compared to 3.3 per cent decline in the S&P BSE Sensex on the back of Covid resurgence in some European countries and concerns over possible lockdown restrictions as a result of the same. Since November, these indices had rallied 19.5 per cent,