Smallcap index plunges 16% from record high level; 26 stocks slip over 30%

As many as 89 stocks from the smallcap index hit their respective 52-week lows today.

The S&P BSE Smallcap index plunged nearly 5% to 16,945 in early morning trade on Tuesday, falling 16% from its record high level of 20,183 touched on January 15, 2018 in intra-day trade.

At 01:29 PM; the S&P BSE Smallcap index, the largest loser among sectoral indices, was down 3.2% as compared to 2.5% decline in the S&P BSE Midcap and 2.6% fall in the benchmark S&P BSE Sensex. The market is reacting to the global cues and hardening of bond yields across markets.

The midcap index hit intra-day low of 15,776, has slipped 14% from its all-time