Over the last week, the Nifty Midcap 100 index has declined 6.3%, while the Nifty Smallcap 100 has slipped 7.8%. The mid‑cap and small‑cap stocks came under selling pressure on Friday, October 23, amid weak market sentiment. During intraday trade, the broader market underperformed the benchmark indices, with the Nifty Midcap 100 and Nifty Smallcap 100 slipping 3% and 4%, respectively. The SENSEX declined as much as 1.08% to an intra‑day low of 73,249.39, while the NIFTY50 reached the session’s low of 22,372.00.

The markets pared early gains tracking a surge in crude prices in the global markets. Investor sentiment turned negative as surging crude prices stoked fears that spiraling inflation would adversely affect margins of Indian companies going forward. Brent crude futures surged as much as 1.35% to a fresh 5‑month high of $114.7 per barrel due to concern of further energy supply disruption after Houthi attacks on top exporter Saudi Arabia. Oil‑linked stocks such as HPCL, BPCL, Asian Paints and CEAT slid as crude prices rose above $114 per barrel.

The Nifty Smallcap 100 index opened at 18,221.65 on Friday and slipped to an intraday low of 17,571.60. By the afternoon session, 94 stocks on the index were trading in the red. At the time of writing the article, Urban Company was the biggest laggard on the index, declining 7.86%. Netweb Technologies (-7.42%), Ola Electric Mobility (-7.23%), TD Power Systems (-7.21%) and Karur Vysya Bank (-6.87%) were the other top losers. Shares of IIFL (-6.38%), Inox Wind (-5.92%), Delhivery (-5.9%), ITI (-5.6%), Syrma SGS Technology (-5.47%) and Kfin Technologies (-5.47%) were also trading lower.

On the flip side, Chennai Petroleum Corporation, IGL, Sterlite Technologies, Anand Rathi and JSW Cement were the only gainers in the afternoon session. The NIFTY Midcap 100 index opened at 57,019.20 and touched a low of 55,208.95 during the intraday period on Friday. Almost all stocks on the Nifty Midcap 100 were trading in red. Swiggy was the most losing stock, declining 15.07%, followed by Lodha Developers (-6.16%), Motilal Oswal Financial Services (-6.12%), Havells India (-6.06%), Adani Total Gas (-5.41%) and KEI Industries (-5.2%).

Shares of Swiggy, the online food delivery and quick‑commerce platform, fell to hit its fresh 52‑week low on Friday after the company reported its Q2 FY27 results post‑market hours on Thursday. The sharp sell‑off reflects investor concerns over softer‑than‑expected performance in its key food delivery and quick‑commerce businesses, alongside intensifying competition. Comparatively stronger results from rival Eternal have also put the spotlight on Swiggy’s growth momentum and progress towards improving profitability.