Mid & Small Caps Outperform
India’s benchmark equity indices began the week on a muted note, slipping for the fourth consecutive session amid weak corporate earnings for the June quarter and persisting global trade concerns.
The BSE Sensex declined by 247 points, or 0.30%, to close at 82,253, while the NSE Nifty50 shed 68 points, or 0.27%, to settle at 25,082. Despite the headline indices staying under pressure, broader market segments offered some resilience.
Mid & Small Caps Buck the Trend
Contrary to the headline indices, mid-cap and small-cap stocks posted gains, signaling selective investor interest in the broader market. The BSE Mid-Cap index climbed 0.67%, while the Small-Cap index advanced 0.57%, reflecting a relatively positive market breadth.
Mixed Performance Across Sectors and Stocks
Among the 30 constituents of the Sensex, 10 ended in the green, while the remaining 20 declined. Key gainers included:
- Eternal: +2.83%
- Titan: +1.23%
- Sun Pharma: +0.54%
On the losing side:
- Asian Paints: -1.58%
- Tech Mahindra: -1.55%
- Bajaj Finance: -1.54%
In sectoral performance at the BSE:
- 15 out of 21 sectors closed in positive territory
- Realty led with a 1.38% gain
- Healthcare followed, rising 1.15%
- Auto ended flat
- IT and Focused IT sectors lagged, falling 0.99% and 1.07%, respectively
Market Breadth and Technical Indicators
Despite the weakness in benchmarks, the overall market breadth was slightly positive. On the BSE, out of nearly 4,340 traded stocks:
- 2,054 advanced
- 2,137 declined
- 149 remained unchanged
Meanwhile, on the NSE, 80 stocks hit fresh 52-week highs, while 36 stocks touched 52-week lows, indicating ongoing divergence in stock-specific performance.
Investor Sentiment Remains Fragile
The continued decline in frontline indices reflects investor concerns over sluggish Q1 earnings and external macroeconomic pressures, particularly around trade policies. With earnings season underway and global cues remaining uncertain, market participants are likely to stay cautious in the short term, even as select pockets in mid and small caps continue to attract interest.
