Midcaps follow smallcaps into bear territory as selloff intensifies

Market players said a sharp rally in the broader markets over the past two years was underpinned by strong domestic inflows, particularly via the equity mutual fund (MF) route

The Nifty Midcap 100 index tumbled 3.12 per cent on Friday, mirroring smallcaps that have entered the “bear market territory”. The 100-share index, a barometer for the performance of companies with the market value ranging between ₹20,000 crore and ₹70,000 crore —extended its fall from the peak to 21.3 per cent.

 

The Nifty Smallcap 100 dropped 3.4 per cent, stretching its slide from the peak to 25.2 per cent. A bear market is a prolonged decline in stock prices with the major indices falling by 20 per cent or more from their highs.

 

Barring 10, all the Nifty Midcap 100