Posted 3/16/2024, 4:59:02 AM
Markets Slump, Ending 4-Week Rally, as Smallcaps Plunge Up to 40%
- Markets fell 2% last week, ending a 4-week gaining streak, driven by rout in midcap and smallcap stocks
- Sensex dropped 1,475 points or 0.99%; Nifty shed 470 points or 2.09%
- Realty, media, PSU bank, and metal indices fell the most - between 6.8% to 9.4%
- Over 200 smallcap stocks saw declines of 10-40%, dragging broader market sentiment
- Support at 21,900-21,860 crucial for Nifty; resistance at 22,215-22,250 zone