Mid-cap and Small-cap index slip more than 1 per cent

Mid-cap, Small-cap slip at closing hour of trade on Monday. The benchmark BSE MidCap index was at 13,958.90, down by 99.40 points or 0.71 per cent, while BSE SmallCap closed at 13,804.88, down by 278.04 points or 1.97 per cent. Nifty MidCap 100 closed at 16,308.20, down by 206.80 or 1.25 per cent. The market seemed spooked by liquidity concerns raised by NBFCs and banks.

Among the Mid-cap 50 index, DHFL led the fall, losing more than 11 per cent, closing at Rs. 187.00 per share, while DishTV and RBL Bank were down more than 7 per cent each and Canara Bank was down by more than 4 per cent. On the other hand, supporting the index was Muthoot Finance which was up more than 5 per cent, followed by Glenmark, Torrent Pharma which were up more than 3 per cent.

Negative global cues and concerns regard the Trump administration revising the H1- B visa norms weighted heavily on the markets. The BSE Sensex was down 0.53 per cent and Nifty50 closed at 10245.30 down by 0.56 per cent.

Also, there was buzz in the market that NBFCs, bank and the government are demanding that the RBI relax the Prompt Corrective Action (PCA) norms. Financial organization including HFCs, NBFCs and debt funds are of the opinion that PCA banks are causing debt squeeze and liquidity concerns.