The Indian stock market witnessed an across-the-board selloff on Friday, 23 October, with the benchmarks, the Sensex and the Nifty 50, falling up to 1.4% during the session.
However, the selloff was deeper in the mid- and small-cap segments. The BSE 150 Midcap index crashed 3.2%, while the BSE 250 SmallCap Index crashed 3.6% during the session.
Swiggy, Meesho, Vedanta Aluminium Metal, One 97 Communications (Paytm), and BHEL were among the top drags on the BSE 150 Midcap index.
Delhivery, HFCL, Ather Energy, RBL Bank, IIFL Finance, and Apar Industries were among the top drags on the BSE 250 Smallcap Index.
While the market is witnessing an all-round selloff, the mid and small-cap segments are bleeding more due to their higher valuation amid persistent geopolitical concerns, elevated oil prices, and rising bond yields.