BEML & Hindustan Copper Tumble on Broad-Based Selling; NIFTY Smallcap 100 Index Slides Over 4% on March 23, 2026

The smallcap segment of NSE has come under sharp selling pressure. At 11:19 AM on M23, 2026, the Nifty Smallcap 100 index dropped 4.03% to 15,085.25, marking a steep decline of over 630 points. Earlier in the session, the index was already down 3.83%, highlighting persistent bearish momentum. 

Meanwhile, the Nifty Midcap 100 index also slipped 3.5% to 52,936.40 levels, indicating a widespread correction beyond large-cap stocks.

Top Losers on NIFTY Smallcap 100 Index

The Nifty Smallcap 100, which represents nearly 4.77% of NSE’s free float market capitalisation, is witnessing heavy selling, with 99 out of 100 stocks trading in the red. 

Leading the decline was Brainbees Solutions (FirstCry), which plunged over 7% to ₹230, emerging as the top loser in the index. Other notable laggards included Kajaria Ceramics, Bandhan Bank, Whirlpool, Tejas Networks, BEML, and Hindustan Copper, each falling more than 5%.

Latest News on Stocks in NIFTY Smallcap 100 Index 

• Multi Commodity Exchange of India (MCX) is under pressure after NSE introduced 10-gram Gold futures contracts. This move directly challenges MCX’s dominance in the commodity derivatives segment. As a result, the stock has declined around 11% from its 52-week high.
• Karur Vysya Bank revised its Base Rate and BPLR effective March 20, 2026, reflecting adjustments in lending strategy. The bank is also expanding its footprint by opening new branches, including one in Pattabiram, Chennai, to strengthen its retail presence.
• Navin Fluorine International share price has delivered a robust 45% gain in FY26 so far, driven by strong business performance. The stock continues to attract institutional investors, with the Abu Dhabi Investment Authority (ADIA) maintaining its stake.
• Radico Khaitan achieved significant growth with Magic Moments crossing 8 million cases and Old Admiral Brandy surpassing 10 million cases. Additionally, liquor stocks gained traction after Karnataka signaled deregulation in alcohol pricing, boosting sector sentiment.

Read more: LPG Prices in India Today, March 23, 2026: Check Rates in Delhi, Mumbai, Bangalore and Other Cities.

Conclusion

The sharp fall in the Nifty Smallcap 100 on March 23, 2026, highlights growing caution in the broader market. While select stocks continue to show strong fundamentals and growth stories, the current correction suggests investors are turning risk-averse. Going forward, global cues, interest rate trends, and earnings visibility will play a crucial role in determining the direction of smallcap stocks. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks. Read all related documents carefully before investing.