Sensex now down more than 700 points

New Delhi: BSE Sensex is down sharply by 703 points at 64,693 points on Monday with metal stocks leading the fall.

Metal stocks lead the losses with JSW Steel and Tata Steel down more than 2 per cent.

TCS, Indusind Bank, Tata Motors, Wipro are also down more than 2 per cent.

Small cap stocks which have been the outperformers of this year’s market rally came under selling pressure on Monday.

BSE Small Cap Index is one of the biggest losers in trade, down 3.7 per cent. BSE 250 Small Cap Index is down 2.2 per cent.

Even as the headline indices have taken a knock, small and mid cap stocks had survived the selling pressure and outperformed the headline indices.

According to Motilal Oswal Asset Management Company (MOAMC)’s Global Market Snapshot report, Nifty Midcap 150 outperformed all major indexes in September by rising 3.04 per cent.

It has risen by 12.98 per cent, 33.37 per cent, 29.92 per cent in the last three months, six months and one year, respectively.

Similarly, Nifty Smallcap 250 has also performed well during the same period rising by 15.99 per cent, 39.17 per cent, 32.96 per cent in the last three months, six months and one year, respectively.