Indian benchmark indices closed sharply lower today, with midcap and next-tier segments leading the downside amid heavy FII selling, global market weakness, and profit booking in financials and autos.
Key Highlights:
- NIFTY NEXT 50 tumbled 2.28% to 68,123.00, reflecting broad pressure on mid-tier stocks with a P/E of 19.49.
- NIFTY MIDCAP SELECT fell 2.27% to 13,184.95, showing valuation concerns at a P/E of 28.37.
- NIFTY 50 declined 1.97% to 24,683.70, weighed by large-cap drags despite a Div Yield of 1.24.
- NIFTY BANK dropped 1.59% to 59,567.50, with financials underperforming at a P/B of 2.11.
Indices Performance:
| Index Name | Last | % Chg | P/E | P/B | Div Yield |
|---|---|---|---|---|---|
| NIFTY NEXT 50 | 68,123.00 | -2.28 | 19.49 | 3.61 | 1.34 |
| NIFTY MIDCAP SELECT | 13,184.95 | -2.27 | 28.37 | 4.45 | 0.82 |
| NIFTY 50 | 24,683.70 | -1.97 | 22.03 | 3.42 | 1.24 |
| NIFTY FINANCIAL SERVICES | 27,386.05 | -1.74 | 17.80 | 2.94 | 0.84 |
| NIFTY BANK | 59,567.50 | -1.59 | 16.21 | 2.11 | 0.97 |
The downturn highlighted elevated valuations in midcaps, with all derivatives-eligible indices posting losses.
