Small-cap and Mid-cap schemes by Quant Mutual Fund fell the most among their category as broader markets crashed on Wednesday, losing over Rs 5 lakh crore in cumulative market cap.
Quant Small Cap Fund fell the most by 5.8% among small-cap schemes, while Quant Mid Cap Fund showed the biggest NAV decline by 4.9% among mid-cap schemes, according to the NAV s reported by mutual fund houses to the Association of Mutual Funds in India.
PGIM India Small Cap Fund and UTI Small Cap Fund showed the least decline from the correction in markets amid small-cap schemes, while Motilal Oswal Midcap Fund and PGIM India Midcap Opportunities Fund fell the least amid mid-cap funds,
The Nifty Smallcap 250 fell by over 5% on Wednesday, recording a wipe-out of Rs 2 lakh crore in investor wealth, while the Nifty Midcap 150 fell by over 4%, erasing Rs 3 lakh crore in its constituents’ cumulative market capitalisation.