Every speed that occurs amid the decline in stock markets will be heavy on smallcap and midcap stocks. This is to say that Rohit Srivastava, founder of Indiacharts.com. He said this in a conversation with CNBC-TV18. He said that the market is very oversold. The market declined on February 11, the fifth consecutive season. Midcap and smallcap were beaten more. Midcap and smallcap have lost 6-6 percent in just two days.
30 percent stocks close to 52 weeks
About 30 per cent of midcap and smallcap stocks are close to their 52 -week lowest level. Some Samallcap and Midcap Stocks have fallen by 60 per cent from their record height. About 70 percent of the stocks have fallen 30 per cent from their high. The market capitalization of companies listed in BSE has fallen by 9.87 lakh crores to Rs 407.95 lakh crore. Srivastava said that it seems that instead of midcap and smallcap, there can now be more interest in the lordCap.
More fall in these shares
HDFC Bank, ICICI Bank and Kotak Mahindra Bank’s stocks declined a major decline. These stocks fell by 3 percent. These stocks stake in the Sensex’s decline of 270 points. The market is affecting the change in the US tariff policy. On the other hand, selling foreign funds continues. Earnings growth of companies is also weak. Market experts say that the pressure on the market is expected to continue at the moment.
Largecap also declined big
NIFTY 50 declined by 1.32 per cent i.e. 309 points. It was closed at 23,071. This means that it will run below 23,000 after a slight decline. Breaking a level of 23 thousand will have a bad effect on the market sentiments. Sensex fell 1,018 points, or 1.32 per cent, closed at 76,293. Eicher Motors was 6.46 per cent in largecap, which fell by 6.46 per cent. Apollo Hospital fell 6.41 percent. Varun Beverages declined by 5.58 percent.
Use a decline opportunity for investment
Market experts say it is not for market trading. Investors who can invest for long periods can use the decline opportunity for shopping. It has to be kept in mind that the investment will have to be done slightly instead of lump sum. This will keep the average cost of investment, which will increase the chances of earning higher profits in the long term.