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Midcap and Smallcap Indices Lag as IT Sector Falls
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Midcaps, smallcaps slide; IT sector pulls markets down.
Indian midcap and smallcap indices fell by 0.5% each, while IT stocks plunged 2.7% and pharma stocks lost 1%. Power and oil sectors offered minor gains, cushioning the decline somewhat. Adani Enterprises and Eternal stood out as top-performing stocks, whereas Tech Mahindra and TCS led losses. Broader markets underperformed, with significant profit-booking observed across the Nifty 500 universe. The advance-decline ratio skewed negative, reflecting widespread bearish sentiment among investors.