Mid, small-cap indices dip 1.5% each; 3M India, RBL Bank among worst hit

Surpassing the benchmarks, the mid and small-cap stocks fell more  in intra-day deals on Wednesday. The S&P BSE MidCap index was trading around one and a half per cent lower at 14,954 levels, with 3M India (down 6 per cent) the worst hit. Cholamandalam Investment and Finance, Gruh Finance and RBL Bank were among the major contributors to the index's fall. 

The S&P BSE SmallCap index, too, slipped nearly 1.50 per cent to 14,260 levels. Jubilant FoodWorks, Bharat Financial Inclusion and IB Ventures contributed the most to the index's fall, declining between 4 and 7 per cent. 

However, Nagarjuna Fertilizers bucked the trend, rallying as much as 17.97 per cent on BSE after the company said it has restarted production of urea from Unit I of Kakinada Plant, Andhra Pradesh on December 23, 2018. The company is in the process of a long term debt resolution with its lenders. 

In its press release, it said, "the company is in the process of a Long Term Debt Resolution with its lenders. Pending debt resolution, basis support of Department of Fertilizers and Lenders, the company has restarted production of Urea from Unit I of Kakinada Plant, Andhra Pradesh on December 23, 2018."

On the other hand, benchmark indices Sensex and Nifty were trading around 1 per cent lower amid global sell-off. 

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