Midcap and smallcap indices slip over 1.5%: Cummins India, Paytm, Sonata Software, Railtel among top losers

The broader market on Tuesday, May 6, tumbled 1.5% during the day as benchmark equity indices remained under pressure following US markets and geopolitical tensions.

NIFTY Midcap 100 was trading 1.48% lower at the 53,865.30 level, while NIFTY Smallcap 100 was at 16,355.05, declining 1.53%.

Both the midcap and smallcap indices were underperforming the equity benchmark indices during the intraday period.

After opening at the 54,806.35 level, the NIFTY Midcap 100 index touched a low of the 53,834.05 level and a high of 54,895.05 during the intraday period on Tuesday.

On the index, Cummins India was the top losing scrip, tanking 5%. Shares of one of the leading manufacturers of diesel and natural gas engines tumbled as the company's parent firm has withdrawn its full-year guidance owing to Trump's tariff measures.

Shares of One 97 Communications (-4.57%), Godrej Properties (-4.01%), Union Bank of India (-3.90%), Adani Total Gas (-3.6%) and Kalyan Jewellers (-3.56%) were the other top losing stocks in the sector.

Paytm parent One 97 Communications shares were trading lower on Tuesday ahead of its March quarterly earnings announcement.

HUDCO (-3.49%), IREDA (-3.44%), Policy Bazaar (-3.42%), Bandhan Bank (-3.36%) and Bank of India (-3.35%) were also trading lower on the NIFTY Midcap 100 pack.

However, a few stocks like Max Healthcare (2.81%), Biocon (2.16%), Yes Bank (2.03%), Glenmark Pharma (1.29%) and Muthoot Finance (1.05%) were trading positively on the index.

After opening at the 16,649.55 level on Tuesday, the NIFTY Smallcap 100 index touched a low of 16,358.25 and a high of 16,699.20 during the intraday period.

Sonata Software shares were the biggest laggard on the index, slipping 5.33%. Railtel Corporation of India (-4.46%), Poonawalla Fincorp (-4.09%), Reliance Power (-3.88%), NCC Limited (-3.84%) and Swan Energy (-3.65%) were the other top losing stocks in the Nifty Smallcap 100 pack.

Meanwhile, a few shares on the gauge were also trading higher. Newgen Technologies (4.54%), Chambal Fertilisers & Chemicals (3.06%), Tejas Networks (2.74%), Narayana Hrudayalaya (1.87%) and Dr. Lal Path Labs (1.77%) were among the gaining scrips on the pack.