Nifty IT is down by 4% during the half trading session, while Nifty 50 is down by 1.60%.
Smallcap, midcap indices crash over 2%, Rs 18 lakh crore eroded since correction began
Out of the Rs 31.94 lakh crore eroded in Nifty50 market capitalisation since its peak last September, broader markets have shed Rs 18.60 lakh crore.
Nifty Midcap 100 and Nifty Smallcap 100 continued to fall for a fourth consecutive session, on Friday, February 28, posting over 2 percent decline in early trade. The sell-off across the markets continued as geopolitical concerns weighted.
From its peak, Nifty Smallcap 100 has crashed over 21 percent, shedding Rs 5.25 lakh crore in market capitalisation from its high. Meanwhile, Nifty Midcap 100 tumbled over 24.5 percent from its peak, eroding Rs 13.35 lakh crore in its market capitalisation.
Nifty 50 is already losing at the start of the day, as on February 28, making it potentially a seventh consecutive session of decline. As of 11:30 am, Nifty 50 is at a decline of 1.19 percent to quote 22,250.
