Smallcap and midcap stocks tumbled on Friday, extending their losses and dragging broader market indices down by up to 4%, as analysts continued to flag valuations that are difficult to justify.
The Nifty Smallcap 250 index dropped 4% to hit the day’s low at 16,237. The index has crashed around 8% in just four sessions this week so far, and nearly 12.5% after hitting a 52-week high of 18,551 in early September this year.
