Stock market today: Indian midcap and smallcap stocks witnessed heavy selling on Friday even as benchmark indices Sensex and Nifty defied a global market rout to trade higher. The Nifty Midcap 100 and Smallcap 100 indices fell more than 1 percent each, with several individual stocks plunging as much as 18 percent.
A sharp rise in India VIX, negative market breadth and widespread sectoral losses suggested broader selling pressure and heightened investor caution, with the gains concentrated in select heavyweight stocks. At 12 noon, the Sensex was up 487.66 points, or 0.61 percent, at 79,797.67, while the Nifty gained 86.75 points, or 0.35 percent, to 24,623.35.
However, the Nifty Midcap 100 declined 1.43 percent to 59,755.60, while the Nifty Smallcap 100 fell 1.81 percent to 18,786.65, significantly underperforming the benchmarks.
Selling pressure was widespread, with 2,569 stocks declining against just 1,213 advancing, while 172 remained unchanged. Declining stocks outnumbered gainers by more than two to one. Meanwhile, India VIX surged 9.44 percent to 17.05, indicating a sharp increase in expected market volatility despite gains in the Sensex and Nifty.
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