The carnage in smallcap stocks continues for the fourth consecitive session. The BSE Smallcap 100 has fallen almost 2,100 points from the day’s high. The index is now down 19% from its recent high.
This indicates that the BSE Smallcap index is just a percentage point away from entering the bear territory. A bear market is defined when the index drops 20% or more from a recent high.
The biggest losers in the index were Senco Gold and Concord Biotech. Both the stocks touched their lower circuit of 20%.
ALSO READNifty slides below 23,000: A look at key levels to watch now Senco Gold biggest loser of BSE Smallcap
The key reason behind the fall in Senco Gold’s share price can be attributed to a 69% plummet in its net profit year-on-year to Rs 33.48 crore in Q3 FY25 from Rs 109.32 crore in the same quarter a year ago.
Following the suit, the share price of Concord Biotech hit the lower band after its quarterly results showed weak performance. The company reported a net profit fall of 2% YoY to Rs 75.9 crore in Q3 FY25, as against Rs 77.6 crore a year ago.
ALSO READOver 300 stocks hit 52-week lows. The 5 Biggest Losers are…
Apart from these two, the five biggest losers in the index are Igarashi Motors India (15.7%), Renaissance Global (13.06%), Lincoln Pharmaceuticals (11.3%), DCW (11.17%), and Heranba Industries (10.9%).
BSE Smallcap’s historical performance
The index has fallen almost 8.3% in the last five trading sessions. The index has erased 11.8% of investors’ wealth in the last one month and 14.4% in the previous six months. The index has given a return of a mere 1.2% in the last one year.
» Read More
