Mid and Small-cap stocks collapse - TRANS SCAN

A 62% plunge in the Core Education & Technologies scrip led to a collapse of mid and small-cap stocks on the bourses on Monday. A massive sell-off in shares of over a dozen companies, including Core Education, was triggered following reports around noon that financial institutions were selling pledged shares.

This is not the first time midand small-cap stocks are facing traders' wrath. Last August, several stocks, including Tulip Telecom, plunged on similar news. Earlier in January, HDIL led the decline.

The Nifty midcap-50 on Monday declined 1.18% to close at 2,120 and the BSE mid-cap index lost 1.2% to close at 6,530. As many as 132 stocks fell between 5 and 10% on the BSE and another 26 in excess of 10%.

Source : Equity Bulls

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