Market Update: Nifty, Sensex Fall Over 1% on SEBI’s Small and Mid-cap Fund Warning

The BSE Midcap and Smallcap indices dropped over 1.5 percent today, following reports that the Securities and Exchange Board of India (SEBI) has urged asset managers to provide investors with more information on the risks associated with their small and mid-cap funds. The broader market decline was led by heavy sell-offs in media, PSU bank, and energy stocks, with all NSE indices trading in the red.

The Sensex closed 790.34 points or 1.08 percent down at 72,304, while the Nifty fell 247.10 points or 1.11 percent to 21,951. Despite the day’s losses, the Sensex and Nifty have risen 1.1 percent and 1.3 percent respectively in February.

  1. Rout in Mid- and Small-caps: The BSE Midcap and Smallcap indices fell 1.5 percent amid SEBI’s push for more transparency in small and mid-cap funds. In the month-to-date (MTD) period, the BSE midcap index has gained 1.1 percent, while the smallcap index has lost around 1.3 percent.
  2. Media, Realty Stocks Bleed: Nifty Media, Realty, PSU Bank, and Energy indices led the sectoral losses, falling over two percent. Nifty Bank, Metal, and Infra also fell over one percent.

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