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Mid-and-small-cap indices recorded sharpest weekly fall in 2012

Deepak Korgaonkar/Mumbai 27 Jul 12 | 05:43 PM

Mid-cap and small cap indices have reported their sharpest weekly fall in 2012, after the National Stock Exchange (NSE) decided to remove some stocks from the futures and options (F&O) segment and market rumours that the some big market operators are offloading large number of shares.

The Bombay Stock Exchange (BSE), mid and small-cap indices have fallen almost 5 per cent each during the week registering their highest fall since December 2011 compared to 1.8 per cent fall in the benchmark Sensex. Earlier in week ended December 11, 2011, the mid and small-cap indices had declined by 6 per cent each.

Out of 774 companies which constitute the mid and small cap index, as many as half or 347 stocks have underperformed the market by falling more than 5 per cent each. Of these 347 stocks about 33 stocks plunges over 15 per cent each, 92 stocks fallen between 10 per cent and 15 per cent and the remaining 222 stocks decline in the range of 5 per cent and 10 per cent.


Price on BSE in Rs

% fall 
Jul, 20 Jul, 27
Glodyne Technoserve 363.05 218.90 39.7
Gokul Refoils & Solvent 82.35 50.20 39.0
Amar Remedies 140.00 88.45 36.8
Parsvnath Developers 57.85 37.04 36.0
Pipavav Defence & Offshore 79.55 55.60 30.1
Deccan Chronicl 26.15 18.55 29.1
Everonn Education 185.60 137.44 25.9
SpiceJet 33.35 25.20 24.4
Walchandnagar Ind 88.60 69.75 21.3
S Kumars Nationwide 32.79 26.10 20.4
Source: BSE                                             Data complied by BS Research

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Glodyne Technoserve, Gokul Refoils & Solvent, Amar Remedies, Parsvnath Developers and Pipavav Defence & Offshore have seen their market price plunge by more than 30 per cent each.

Analysts said that mid-caps and small-caps have underperformed as there was a problem with many Delhi and Kolkata brokers where margin call triggered in funded/pledged stocks.

“Mid and small cap indices ended nearly 4-5 per cent lower, indicating greater pressure on these. During the week, sharp falls in a few stocks impacted the performance and the sentiments for the mid cap stocks as a whole," said Dipen Shah, head of PCG (Private Client Group) Research, Kotak Securities.

Lanco Infratech, Escorts, S Kumars Nationwide, Patel Engineering, BF Utilities, Orchid Chemicals & Pharmaceuticals and BEML have declined more than 14 per cent each on removal from the F&O list.

“After 51 stocks got excluded from F&O created huge pressure on select stocks and due to which stocks saw major correction," said AK Prabhakar, Senior Vice President (Equity Research), Anand Rathi.

“With these major corrections in stocks it does give opportunity to buy for longer term perspective," added AK Prabhakar.

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Company Price Gain (%)
Reliance Inds.969.753.70
Yes Bank323.403.31
M & M838.451.94
Adani Ports391.951.74
ICICI Bank284.201.66


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