The Midcap index fell 1,200 points or 2%; Resilient Systems, Suzlon Energy, BSE top drags

Indian stocks continued to decline for the fifth straight day as the hawkish Fed continued to weigh on global markets. In Friday’s session, dragged down by the IT index, the headline indices fell sharply, with the BSE 30-share Sensex index down nearly 800 points at the last count. However, the midcap index did not perform well in the previous indices and finally decreased by 1.8 percent or 1,044.5 points.

The leading luxury hotels to lose are Persistent Systems, Suzlon Energy, BSE, IDFC First Bank, Coforge, Indian Hotels, Mphasis and Dixon Technologies among others.

G. Chokkalingam, Founder of Equinomics about the huge fall in midcap stocks said, “As FIIs continue to sell and large caps are under pressure, and global markets have also corrected a lot, it has given investors some fear. Moreover, this fall is happening when the Many FIIs are on holidays, so there is a fear in the market that this weakness in the overall market may continue to be weak till the end of December watch retail investors too they are reluctant to invest in small and medium cash.”