Mid, small-cap indices fall 2% as volatility spikes |
Broader market indices, which have underperformed benchmarks this year, took a heavy knock on Monday amid heightened volatility ahead of the US Federal Reserve’s rate decision, profit-booking and continued selling by foreign institutional investors.
The BSE Midcap index closed 1.7% lower at 45,810.54 points, its lowest level since October 3 and the BSE Smallcap fell 2.20% to close at 49,967.14, its lowest close since May 13. Large cap indices Nifty 50 and Sensex outperformed their broader peers and closed 0.7%-0.8% down. The Nifty Next 50 also closed 2% lower at 67,302.50 points.
India VIX- the volatility........