Smallcaps slide on fears of tighter Sebi norms; BCL, Sigachi sink up to 17%

The S&P BSE Smallcap index was down 1 per cent in intra-day deals on Monday as against a 0.3 per cent dip on the S&P BSE benchmark, the Sensex.

Shares of smallcap companies were under pressure and declined up to 17 per cent on the BSE in Monday's intra-day trade amid heavy volumes on concerns of further follow-up actions from the market regulator to prevent a bubble formation in the broader market and its inevitable burst.

At 10:32 am; the S&P BSE Smallcap index, slipped nearly 1 per cent or 413.58 points to 44,240.29. In comparison, the S&P BSE Sensex was down 0.28 per cent, while the S&P BSE Midcap index up 0.4 per cent.

With today's decline, the Smallcap index has tanked 5.5 per cent from its record