13 Mar , 2026 By : Debdeep Gupta
Mid and smallcap indices fell up to 2.3 percent on Friday, extending their losses as the ongoing conflict in West Asia and rising crude oil prices weighed on investor sentiment.
The Nifty Midcap 100 index has declined in seven of the nine sessions so far in March, slipping nearly 10 percent. Friday marked the third straight session of losses for the index.
National Aluminium Company (NALCO) and Ashok Leyland were among the major laggards in the Nifty Midcap 100 index, falling 5.3 percent and 4 percent, respectively.
The Nifty Smallcap 100 index has also declined in seven out of the nine sessions in March so far, dropping about 10 percent. Friday marked the third consecutive session of decline for the smallcap index.
Laurus Labs and Data Patterns (India) were among the major losers in the Nifty Smallcap 100 index.
The broader markets fell in line with the benchmark indices. The Sensex declined 912.58 points or 1.2 percent to 75,121.84, while the Nifty traded at 23,324.30, down 314.85 points or 1.33 percent.
For the week so far, the Sensex and Nifty have dropped 4.5 percent and 4.8 percent, respectively, and are on course for their steepest weekly fall since December 2024.
Crude oil prices rose after Iranian strikes on two oil tankers raised concerns over possible supply disruptions through the Strait of Hormuz.
Brent crude futures climbed close to USD 100 per barrel on Thursday before trading flat. The global benchmark Brent crude traded marginally higher at around USD 100.5 per barrel on Friday.
Higher crude prices typically weigh on Indian equities as the country imports a large share of its oil requirements. Rising oil costs increase the import bill, widen the current account deficit and add to inflationary pressures.
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