Nifty Smallcap 100 Plunges to 14,986 Low: Why Mid- and Small-Caps Are Crashing Harder Than the Market in March 2026

  The Indian stock market witnessed intense selling pressure on March 23, 2026, as mid- and small-cap indices tumbled over 4% amid a broader market crash driven by escalating geopolitical tensions in the Middle East. The Nifty Midcap 100 index has now declined around 13% year-to-date in 2026, reflecting sharp corrections in broader market segments that have outperformed in previous years but are now facing heightened volatility. Sharp Intraday Declines in Midcap and Smallcap Indices The Nifty Smallcap 100 index opened at 15,565.30 on Monday but quickly slipped to an intraday low of 14,986, erasing significant ground in early trade. By the afternoon session, the selling intensified, with the index down over 4% at points during the day. Market breadth was overwhelmingly negative—except for isolated performers like Trident (up around 2.85%), virtually every stock in the Nifty Smallcap 100 traded in the red, signaling widespread panic across smaller companies. Similarly, the Nifty M...
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Stock Market Update: Sensex Gains 227 Points, Nifty at 23,250 on Expiry Day


The Indian stock market ended on a positive note, with the Sensex rising by 227 points and the Nifty closing at 23,250. Despite volatility due to the monthly expiry, the indices managed to sustain gains, driven by strength in realty, pharma, and PSU stocks.

On the sectoral front, oil & gas, power, pharma, energy, PSU, FMCG, and realty gained between 0.5-1 percent, providing support to the market. Meanwhile, the IT, media, auto, and consumer durables sectors faced selling pressure, declining by 0.4-2 percent.

Among the major gainers on the Nifty were Bharat Electronics, Hero MotoCorp, Bharti Airtel, Cipla, and Power Grid Corporation. On the other hand, Tata Motors, Shriram Finance, Adani Enterprises, Bajaj Finserv, and Adani Ports were the top losers of the day. The BSE Midcap and Smallcap indices remained largely flat, reflecting a mixed market sentiment.

A key factor influencing market movements was the US Federal Reserve’s decision to keep benchmark rates unchanged, which provided some stability. However, foreign investors have been pulling funds out of Indian equities, withdrawing a staggering ₹76,273 crore in January 2025 alone. This is in stark contrast to the entire calendar year of 2024, where the total FII outflow stood at just ₹427 crore. After being net buyers in December, foreign investors have turned cautious over the past few days.

From a technical perspective, the Nifty demonstrated strength, with the 23,000 level acting as a crucial support for a buy-on-dips strategy. If the index holds above this level, further upside potential remains. Traders should watch global cues and FII activity closely to gauge near-term market trends.

Looking ahead to Friday’s trading session, a buy-on-dips strategy near 23,000 could be effective, especially in sectors showing resilience such as pharma, PSU, and FMCG. Volatility is expected to persist due to the expiry effects, and sectoral rotation will play a crucial role in determining market direction. With external factors like global interest rate policies and FII sentiment influencing trends, traders should remain cautious yet opportunistic in their approach. 

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