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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India-Pakistan Tensions Rise After Missile Strikes on Terror Camps

In the early hours of Wednesday morning, the Indian Armed Forces carried out missile strikes on nine suspected terrorist camps in Pakistan and Pakistan-Occupied Kashmir (PoK). The strikes, conducted at 1:44 AM, targeted locations associated with terror outfits like Lashkar-e-Taiba in Muridke and Jaish-e-Mohammed in Bahawalpur.

The military action came just days after a deadly terrorist attack in Pahalgam, Jammu & Kashmir, on April 22, which left 26 people dead — 25 of them Indian citizens, and one Nepali national. The Pahalgam incident, described as one of the deadliest in recent years, sparked nationwide outrage and prompted a swift response from the Indian government.

What Led to the Strikes

India has long accused Pakistan of providing safe haven to terrorist groups that carry out attacks on Indian soil. According to officials, the recent missile strikes were aimed specifically at terror infrastructure, with efforts made to avoid civilian casualties.

“We will find them, wherever they hide,” Prime Minister Narendra Modi said in a televised address, pledging to bring justice to the victims of the Pahalgam attack. The strikes were reportedly timed alongside a large-scale civil defense drill across 244 districts in India to prepare for potential retaliatory scenarios.

Pakistan’s Reaction

Pakistan condemned the missile strikes, calling them an act of war. Prime Minister Shehbaz Sharif warned that the Pakistani military was fully prepared to respond. He claimed that eight civilians had died in the attacks and that two Indian jets were shot down — though these reports have not been independently verified.

A Delicate Situation

With both India and Pakistan being nuclear powers, the latest developments have raised serious concerns about potential escalation. International observers are urging both sides to exercise restraint and engage in dialogue to prevent further conflict.

While India’s objective appears to be the dismantling of cross-border terror networks, experts warn that any misstep or overreaction could spiral into broader conflict.

Looking Ahead

The missile strikes mark a turning point in India’s approach to cross-border terrorism. The coming days will be critical in determining whether this leads to open conflict or a renewed push for diplomatic engagement. Meanwhile, global powers continue to monitor the situation closely, hoping for a de-escalation.

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