Stock market today: NIFTY Midcap and Small cap fall up to 2% amid broader market rout

NIFTY50 and SENSEX opened lower on Tuesday, taking cues from weak global markets after recession fears rattled US markets. The tech-heavy NASDAQ index fell almost 4% as the magnificent 7 stocks pulled the markets lower. The NIFTY50 opened 115 points lower at 22,345 and the SENSEX opened nearly 345 points lower at 73,743.

IndusInd Bank was one of the top losers today opening 10% lower after Bank's internal review found discrepancies which could have an estimated impact of 2.35% of the net worth of the Bank.

The broader markets witnessed intense selling pressure as NIFTY Midcap 100 and Smallcap 100 0.8% and 1.8% respectively on Tuesday morning. The broader indices had recouped partial losses from the lower levels in previous weeks' rally by gaining up to 5%.

However, the broader market rally fizzled out as profit booking and selling pressure resumed in the Midcap 100 and Smallcap 100 indices.

Top gainers and losers in NIFTY Midcap 100

Tata Communications, Paytm, MFSL, Tube Investments India, Hindustan Petroleum, and Oberoi Realty among 22 others were gainers on Tuesday morning gaining up to 3%. On the other side, Bandhan Bank RVNL, AU Small Finance Bank, Mazagon Dock, Fertilizers and Chemicals Travancore were among the top losers on Tuesday, which fell up to 5%.

Top gainers and losers in NIFTY smallcap 100

Triveni Turbine, Garden Reach Shipbuilders, Tata Teleservices, Zensar Technologies, BEML, Inox Wind, and Data patters were some of the top losers which lost up to 5% in early trade on Tuesday. On the contrary stocks like Laurus Labs, Chennai Petroleum, Jyothy Laboratories, Glenmark Pharmaceuticals were among the top gainers with gains of up to 3% on Tuesday morning.