790 in Sensex while a huge gap of 247 points in Nifty

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MUMBAI: After analysts and experts raised the red flag in recent days about overvaluation of many small and mid-cap stocks, i.e. trading at high prices, capital market regulator Sebi has also prudently hedged the assets of small and mid-cap funds before a possible flood. Stocks rallied across Indian stock markets today as managers were instructed to provide more information to their investors about the risks associated with funds. Along with this, only seller's boards started swinging with panic selling in many penny stocks. Small, mid-cap stocks had a big wash today after the big crash reported on 12th February 2024.

Marketbreadth very poor

Market sentiment soured as funds offloaded in heavyweight-frontline Sensex, Nifty stocks and several A group stocks. Gaps started falling in Sensex, Nifty as auto, banking, metal, oil-gas, healthcare, realty, FMCG stocks fell. Finally, the Sensex fell by 790.34 points to 72304.88 and the Nifty spot fell by 247.20 points to close at 21951.15. Market breadth turned extremely negative today with selling in a number of small, mid-cap, A group, cash stocks amid speculation that operators, funds may be in recession. Out of the total 3921 scrip-shares traded in BSE, the number of decliners was 3002 and the number of gainers was only 844.

Biggest gaps in auto stocks

The BSE Auto Index lost 936.43 points to close at 46,732.43 as the biggest losers in the stocks of automobile companies today. Eicher Motors fell by Rs.137.10 to Rs.3865.45, Bajaj Auto by Rs.288.95 to fall to Rs.8173.45, Maruti Suzuki by Rs.352.25 to fall to Rs.11,150.60, Mahindra & Mahindra by Rs.52 .30 fell to Rs.1901, Ashok Leyland fell by Rs.4.65 to Rs.169.40, Balkrishna Industries fell by Rs.58.25 to Rs.2230.80, Apollo Tires fell by Rs.10.95 to Rs.506.95, Bosch Rs.564.70 fell to Rs.28,314.25, TVS Motor fell by Rs.40.05 to Rs.2093.50, Cummins India fell by Rs.45.55 to Rs.2706.85, MRF fell by Rs.1299.40 to Rs. .1,45,877.30 remained.

Oil PSU stocks bounce back

The BSE Oil-Gas index fell 619.82 points to close at 27634.75 as funds sold heavily in other stocks as the rally in Oil-Gas PSU stocks faded. HPCL fell by Rs.16.10 to Rs.513.55, IOC fell by Rs.4.10 to Rs.169.15, Adani Total Gas fell by Rs.22.65 to Rs.1024.75, Petronet LNG fell by Rs.5.10 to Rs. .276.20, Reliance Industries fell by Rs.43.45 to Rs.2926.95, BPCL fell by Rs.4 to Rs.620.85.

Bankex lost 669 points

In the banking-finance stocks today, the BSE Bankex index fell by 669.27 points to close at 52222.50 as the funds unloaded heavily. Bank of Baroda fell by Rs.6.60 to Rs.263.65, IDFC First Bank fell by Rs.1.97 to Rs.81.35, AU Small Finance fell by Rs.11.80 to Rs.578, IndusInd Bank fell by Rs.27.90 fell to Rs.1465, ICICI Bank fell by Rs.11.85 to Rs.1048.50. Along with this, PNB Gilts fell by Rs.6.85 to Rs.108.50, Caffeine Tech fell by Rs.39.80 to Rs.678.10, General Insurance fell by Rs.20.70 to Rs.386.80, Motilal Oswal fell by Rs.87. 65 was reduced to Rs.1650.

Healthcare stocks fell

BSE Healthcare Index fell 354.75 points to close at 35318.19 due to widespread selling in healthcare-pharma stocks today. Sincom Formulation fell by 71 paisa to Rs.14.19, Healthcare Global by Rs.18.05 to Rs.368.50, Supriya Life by Rs.16.50 to Rs.341.95, Piramal Pharma by Rs.6.05 to Rs.1300 .90, Wockhardt fell by Rs.24.70 to Rs.578.20, Strides Pharma fell by Rs.32.95 to Rs.773.30.

Realty stocks retreat

BSE Realty Index fell by 155.87 points to close at 7181.63 due to massive selling of funds in the stocks of realty companies today. Shobha Developers fell by Rs.82 to Rs.1539.85, Godrej Properties fell by Rs.94 to Rs.2400.50, Swan Ng fell by Rs.27.10 to Rs.726.60, Oberoi Realty fell by Rs.48.20 to Rs.1334. 95, Phoenix Mills fell by Rs.83.40 to Rs.2741.50, Macrotech Developers fell by Rs.32.90 to Rs.1117.10.

Huge erosion of investor wealth

Due to panic selling in many stocks, the wealth of investors i.e. aggregate market capitalization of companies listed in BSE was washed away by Rs.6.02 lakh crore in a single day to Rs.385.97 lakh crore.

DII's purchase of Rs.1827 crore

FIIs had a net sale of Rs.1879.23 crore in cash today. A total of Rs.12,938.14 crore was sold against a total purchase of Rs.11,058.91 crore. While DII-domestic institutional investors had a net purchase of Rs.1827.45 crore shares today. A total of Rs.8297.52 crore was sold against a total purchase of Rs.10,124.97 crore.

12, Feb. 2018 Small, mid-cap stocks lost Rs.4,79,228 crore

It is worth mentioning here that finally on February 12, 2024, the BSE Small Cap Index fell by 1443.52 points or 3.16 percent due to wide gap in the stocks of small and mid cap companies today. While in BSE mid-cap stocks also due to all-round panic selling, BSE mid-cap index fell by 1038.43 points or 2.62 percent. On that day, there was a massive erosion of Rs.4,79,228 crores of investors' wealth in small and mid-cap stocks. While the total market cap of the market (collective of companies listed in BSE). Rs.7,52,465 crore was laundered.

1,33,361 crore loss in assets of mid-cap investors

As a result of massive selling by funds, players in mid-cap stocks, the BSE Mid-Cap Index fell 724.47 points or 1.82 percent to close at 39019.19. Investors' wealth in mid-cap stocks i.e. the total market capitalization of BSE mid-cap stocks fell to Rs.64,62,487.95 crore today as compared to Rs.65,95,849.22 crore yesterday. Which was a huge decrease of Rs.1,33,361.27 crores in one day. Out of the 124 scrips included in the BSE Mid Cap Index, the number of decliners was 107 and only 17 were gainers. Finally, on 12th February 2024, there were large gaps in the mid-cap stocks.

Company Name

share price

How much decreased

What percentage broke

-

28-02-24

(in Rupees)

(in percentage)

Idea Vodafone

Rs.13.65

-Rs.2.22

-13.99%

Zee Limited

Rs.162

-Rs.11.00

-6.36%

Godrej Properties

Rs.2354.9

-Rs.139.5

-5.59%

NIACL

Rs.257.15

-Rs.13.90

-5.13%

Yash Bank Ltd.

Rs.23.84

-Rs.1.27

-5.06%

GIC Re

Rs.388.15

-Rs.19.35

-4.75%

HPCL

Rs.507.0

-Rs.22.65

-4.28%

Sona Comms

Rs.659.3

-Rs.27.90

-4.06%

Castrol India

Rs.197.10

-Rs.8.10

-3.95%

REC LTD.

Rs.550.35

-Rs.21.75

-3.80%


A loss of Rs.1,35,208 crore in the wealth of investors in small cap stocks

The BSE Small Cap Index fell 890.41 points, or 1.94 per cent, to close at 44,998.14 today as a result of universal washout in small cap stocks. Investors' wealth in small cap stocks i.e. market capitalization of BSE small cap stocks decreased from Rs.70,33,650.79 crore to Rs.68,98,442.33 crore today. That is, a huge decrease of Rs.1,35,208.46 crores was recorded in one day. Out of 946 stocks included in the BSE Small Cap Index, 837 stocks fell today, while 108 gained. Finally, on 12, February 2024, there were large gaps in small cap stocks.

Company Name

share price

How much decreased

What percentage broke

-

28-02-24

(in rupees)

(in percentage)

Bliss GVS

Rs.123.95

-Rs.12.15

-8.93%

Sigachi Ind.

Rs.84.26

-Rs.7.18

-7.85%

HLV Ltd.

Rs.31.69

- Rs.2.51

-7.34%

HFCL

Rs.104.75

-Rs.8.15

-7.22%

ITDC Ltd.

Rs.724.80

- Rs.53.80

-6.91%

Patel Engineering

Rs.66.03

- Rs.4.85

-6.84%

EKC Ltd.

Rs.154.65

-Rs.11.10

-6.70%

Infibim Ltd.

Rs.33.72

-Rs.2.40

-6.64%

Zee Media

Rs.13.52

-Rs.0.96

-6.63%

Quick Hill Tech.

Rs.535.15

-Rs.36.85

-6.44%

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