Bears attack small-, mid-caps; Nifty risks being mauled, shows data

The carnage in the market has sent several stocks into multi-month lows. The benchmark Nifty on Thursday ended at its lowest since May 27, 2021.

It was the lowest close for the Nifty Smallcap 100 since April 23, 2021; for the Nifty Midcap 100 since June 2, 2021.

The small- and mid-cap indices are already in bear-market zone, having plunged 30.6 per cent and 20.4 per cent, respectively, from their peaks.

Meanwhile, the Nifty is fast-approaching bear-market jungle as it is currently down nearly 17 per cent from its peak in October 2021.

‘Bear market’ is a term used by investors to describe a steep and sustained market downturn. Technically, it’s a drop of 20 per cent or more from recent highs. It’s a symbol and psychological hurdle for investors.