Mid- and small-cap indices slide over 1%: Paytm, HPCL, CDSL, RITES among top losers

The broader market continued to decline for the second consecutive day on Thursday, June 12, as the equity benchmark indices were also seen under pressure.

During the intraday period, Nifty Midcap 100 was trading 1.57% lower, while the Nifty Smallcap 100 index fell 1.79%.

Though the market opened on a positive note, it later lost momentum amid weak global cues and geopolitical tensions between Iran and Israel.

Over a month’s time, the Nifty Midcap 100 index has gained 5.43%, and the Nifty Smallcap 100 gauge has surged nearly 10%.

At the time of writing this, the S&P BSE SENSEX slid 830.23 points, or 1.01%, at the 81,684.91 level, while NSE’s NIFTY50 was at the 24,881.90 level, declining 259.50 points, or 1.03%.

Opening at the 59,444.00 level, the NIFTY Midcap 100 index touched a low of the 58,411.55 level and a high of 59,447.75 during the intraday period on Thursday.

Shares of Paytm's parent One97 Communications was the biggest laggard on the index, slipping 10% to an intraday low of ₹864.40 apiece after the finance ministry set aside speculations on the implementation of Merchant Discount Rate (MDR) on Unified Payments Interface (UPI) transactions.

At the time of writing the piece, the stock was down 6.52%.

HPCL (-5.22%), BSE Limited (-4.24%), RVNL (-3.375), Premier Energies (-3.28%) and IREDA (-3.26%) were the other top losers on the gauge. HPCL shares declined as the crude oil prices saw a sharp spike.

Other losing stocks on the index included Indraprastha Gas (-3.21%), Adani Total Gas (-3.05%), Kalyan Jewellers (-3.05%), IRB Infrastructure (-2.99%) and Mazagon Dock Shipbuilders (-2.86%).

After opening at the 18,807.15 level on Thursday, the NIFTY Smallcap 100 index touched a low of the 18,437.85 level, which is 2% lower than its previous close. The index’s intraday high was at the 18,861.90 level.

Shares of CDSL (-5.05%) were the top losers on the index as an effect of BSE Ltd shares declining after the stock was placed under the Additional Surveillance Measure (ASM) framework.

RITES (-4.52%), Ircon International (-4.36%), Swan Energy (-4.13%), Railtel Corporation (-4.03%) and KEC (-3.52%) were the other top laggards on the index.