{"id":325425,"date":"2026-10-23T14:43:12","date_gmt":"2026-10-23T09:13:12","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=325425"},"modified":"2026-10-23T14:43:12","modified_gmt":"2026-10-23T09:13:12","slug":"why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/","title":{"rendered":"Why Are Midcaps Bleeding? Midcap Index Crash of Over 3% Hits Swiggy, Havells and Lodha as Brent Crude Surges"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Midcap index crash on 23 Oct 2026: the Nifty Midcap 100 fell as much as 3.2% from its opening level of 57,019.20 to a low of 55,208.95, and the Nifty Smallcap 100 fell about 4% to 17,571.60. Over the past week the two indices are down 6.3% and 7.8%. Brent crude touched a five-month high of $114.70 a barrel, and Swiggy fell 15% after its Q2 results.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Midcap index crash today is driven by a surge in crude oil, with Brent at a five-month high of $114.70 after attacks on Saudi Arabia, and by worry that higher inflation will squeeze company margins. The Nifty Midcap 100 fell over 3% at its low and the Smallcap 100 about 4%, while the Nifty 50 fell only about 0.7% at 2:30 PM. Swiggy fell 15% to a fresh 52-week low after soft Q2 results, which added to the weakness. These are intraday numbers and they can change by the close.<\/p>\n<\/p><\/div>\n<p>Midcap index crash days are painful for investors who hold mid-sized companies, since these stocks often fall much faster than the large caps. The Nifty 50 is down less than 1% today, but midcaps and smallcaps are down more than three times as much (my calculation).<\/p>\n<p>This article on the midcap index crash covers the index levels, the reasons behind the fall, the top losers, why midcaps fall harder than large caps and what investors can watch next. It is educational and not a recommendation to buy or sell.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#Midcap_Index_Crash_Index_Levels_Today\" title=\"Midcap Index Crash: Index Levels Today\">Midcap Index Crash: Index Levels Today<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#Why_Are_Midcaps_Bleeding_Today\" title=\"Why Are Midcaps Bleeding Today?\">Why Are Midcaps Bleeding Today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#Top_Losers_in_the_Midcap_Index_Crash\" title=\"Top Losers in the Midcap Index Crash\">Top Losers in the Midcap Index Crash<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#Why_Midcaps_Fall_Faster_Than_Large_Caps\" title=\"Why Midcaps Fall Faster Than Large Caps\">Why Midcaps Fall Faster Than Large Caps<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#What_Investors_Can_Consider_During_a_Midcap_Index_Crash\" title=\"What Investors Can Consider During a Midcap Index Crash\">What Investors Can Consider During a Midcap Index Crash<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#Midcap_Index_Crash_The_Numbers_at_a_Glance\" title=\"Midcap Index Crash: The Numbers at a Glance\">Midcap Index Crash: The Numbers at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#How_Crude_Oil_Links_to_the_Midcap_Index_Crash\" title=\"How Crude Oil Links to the Midcap Index Crash\">How Crude Oil Links to the Midcap Index Crash<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#Sector_View_in_the_Midcap_Index_Crash\" title=\"Sector View in the Midcap Index Crash\">Sector View in the Midcap Index Crash<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#What_to_Watch_Next_After_the_Midcap_Index_Crash\" title=\"What to Watch Next After the Midcap Index Crash\">What to Watch Next After the Midcap Index Crash<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#Why_are_midcaps_falling_today\" title=\"Why are midcaps falling today?\">Why are midcaps falling today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#How_much_did_the_midcap_index_fall_on_23_Oct_2026\" title=\"How much did the midcap index fall on 23 Oct 2026?\">How much did the midcap index fall on 23 Oct 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#How_much_did_the_smallcap_index_fall\" title=\"How much did the smallcap index fall?\">How much did the smallcap index fall?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#Which_midcap_stocks_fell_the_most\" title=\"Which midcap stocks fell the most?\">Which midcap stocks fell the most?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#Why_do_midcaps_fall_more_than_large_caps\" title=\"Why do midcaps fall more than large caps?\">Why do midcaps fall more than large caps?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#How_have_midcaps_done_over_the_past_week\" title=\"How have midcaps done over the past week?\">How have midcaps done over the past week?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#What_should_investors_watch_after_the_midcap_index_crash\" title=\"What should investors watch after the midcap index crash?\">What should investors watch after the midcap index crash?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/why-are-midcaps-bleeding-midcap-index-crash-over-3-percent-smallcap-falls-4-percent-swiggy-havells-lodha-top-losers-brent-114\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Midcap_Index_Crash_Index_Levels_Today\"><\/span><strong>Midcap Index Crash: Index Levels Today<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Midcap index crash: index<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Level or move on 23 Oct 2026<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nifty Midcap 100 (open and low)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Opened at 57,019.20; low of 55,208.95, a fall of about 3.2% (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nifty Smallcap 100 (low)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Low of 17,571.60, about 3.9% below the previous close of 18,275.90 (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nifty Smallcap 100 (about 2:30 PM)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">17,781.75, down 2.70%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nifty Midcap 50 (about 2:30 PM)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">16,009.40, down 2.45%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nifty Next 50 (about 2:30 PM)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">65,650.60, down 2.53%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nifty 500 (about 2:30 PM)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">21,379.65, down 1.46%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nifty 50 (about 2:30 PM)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">22,538.90, down 0.66%; low of 22,372<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Sensex (about 2:30 PM)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">72,945.83, down 0.41%<\/td>\n<\/tr>\n<\/table>\n<p>The low points come from Upstox and the 2:30 PM levels from exchange data on a market data terminal, so the percentages are from different times. Midcap and smallcap indices have recovered a little from their lows, but they are still down much more than the large-cap indices. The Nifty 50 low of 22,372 is about 1.4% below the previous close (my calculation).<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Track midcap and smallcap stocks on the Univest screeners page<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Are_Midcaps_Bleeding_Today\"><\/span><strong>Why Are Midcaps Bleeding Today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><strong>Crude oil surge.<\/strong> Brent rose as much as 1.35% to $114.70, a five-month high, after Houthi attacks on Saudi Arabia raised fears of more supply disruption.<\/li>\n<li><strong>Inflation and margin worry.<\/strong> Higher oil can raise costs for companies and keep inflation high, which can squeeze margins for Indian firms.<\/li>\n<li><strong>Gains pared in early trade.<\/strong> Markets opened with some gains and then reversed, which usually hits high-beta mid and small caps first.<\/li>\n<li><strong>Weak results from a big midcap name.<\/strong> Swiggy&#8217;s Q2 FY27 results were softer than expected in food delivery and quick commerce, amid more competition.<\/li>\n<\/ol>\n<p>These are reasons reported by market data sources and my reading of them, and no single cause explains the whole fall. The Nifty Midcap 100 is down 6.3% and the Smallcap 100 is down 7.8% over the past week, so today&#8217;s move extends a slide that was already under way.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to get stock alerts and track market moves.<\/em><\/p>\n<p><strong>Caution:<\/strong> A one-day fall does not show where markets will go next. Intraday moves can reverse, so check the closing levels and volumes before drawing conclusions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Top_Losers_in_the_Midcap_Index_Crash\"><\/span><strong>Top Losers in the Midcap Index Crash<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Midcap index crash: Nifty Midcap 100 loser<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Fall on 23 Oct 2026<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Swiggy<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 15.07%, a fresh 52-week low<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Lodha Developers<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 6.16%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Motilal Oswal Financial Services<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 6.12%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Havells India<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 6.06%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Adani Total Gas<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 5.41%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">KEI Industries<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 5.20%<\/td>\n<\/tr>\n<\/table>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Midcap index crash: Nifty Smallcap 100 loser<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Fall on 23 Oct 2026<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Urban Company<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 7.86%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Netweb Technologies<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 7.42%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Ola Electric Mobility<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 7.23%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">TD Power Systems<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 7.21%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Karur Vysya Bank<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 6.87%<\/td>\n<\/tr>\n<\/table>\n<p>The losers span food delivery, real estate, financial services, electricals, gas distribution, cables, a bank and an electric vehicle maker. That spread shows the fall is broad and not limited to one sector. Havells fell after its Q2 profit growth lagged revenue growth, and Karur Vysya Bank fell about 6% after a strong run, so company news added to the market weakness.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Midcaps_Fall_Faster_Than_Large_Caps\"><\/span><strong>Why Midcaps Fall Faster Than Large Caps<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Midcap index crash: reason midcaps fall harder<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Explanation<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Lower liquidity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Fewer buyers at any price, so selling pushes prices down faster<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Higher valuations after a run<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Stocks priced for strong growth react sharply to any doubt<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Higher sensitivity to costs and rates<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Smaller firms have less pricing power when oil and borrowing costs rise<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Flow driven<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Funds and traders cut risk in smaller stocks first when the mood turns<\/td>\n<\/tr>\n<\/table>\n<p>This is why a midcap index crash can look severe even when the Nifty 50 is down less than 1%. On the way up, the same traits help midcaps rise faster, which is why many investors accept the extra volatility over a long horizon.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Investors_Can_Consider_During_a_Midcap_Index_Crash\"><\/span><strong>What Investors Can Consider During a Midcap Index Crash<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Midcap index crash: investor type (my reading)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Points to weigh<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Long-term investor<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Check whether the business reasons for owning each stock have changed, since a market fall alone does not change them<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">SIP investor<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Regular investing through a fall buys more units at lower prices, though it does not remove the risk<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Short-term trader<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Volatility is high, so position size and stop levels matter more than predictions<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Cautious investor<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Reviewing how much of the portfolio sits in midcaps and smallcaps can show whether the risk matches comfort<\/td>\n<\/tr>\n<\/table>\n<p>This is an educational view and not advice. Falls of this kind can continue or reverse, and neither outcome is certain.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Midcap_Index_Crash_The_Numbers_at_a_Glance\"><\/span><strong>Midcap Index Crash: The Numbers at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Midcap index crash: comparison<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Figure (my calculation)<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Midcap 100 intraday fall from the open<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 3.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Smallcap 100 intraday fall from the previous close<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 3.9%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nifty 50 intraday fall from the previous close<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 1.4% at the low, 0.66% at 2:30 PM<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Smallcap fall compared with Nifty 50 at the lows<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 2.8 times as large<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Midcap 100 fall over the past week<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">6.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Smallcap 100 fall over the past week<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">7.8%<\/td>\n<\/tr>\n<\/table>\n<p>The midcap index crash is sharper than the headline Nifty 50 move because the two groups carry different risks. The Nifty 50 holds large, liquid companies with global earnings and steady institutional ownership. The midcap index crash hits companies where a single disappointing quarter can move a stock by double digits, as the Swiggy fall of 15% shows.<\/p>\n<p>A second reason the midcap index crash looks severe is the starting point. After a strong run, many mid-sized stocks trade at high multiples to earnings, and a rise in crude oil or a hint of weaker margins makes investors question those multiples. When the question is asked by many sellers at once, a midcap index crash can follow even without bad news for each company.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Crude_Oil_Links_to_the_Midcap_Index_Crash\"><\/span><strong>How Crude Oil Links to the Midcap Index Crash<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>India imports most of its crude oil, so a Brent price near $114 raises the import bill, pressures the rupee and lifts input costs for sectors such as paints, chemicals, tyres, packaging and aviation. Many of these companies sit in the midcap and smallcap space. A midcap index crash in such a period reflects the market pricing in lower margins before the quarterly results confirm it.<\/p>\n<p>Higher inflation can also delay interest rate cuts, which weighs on borrowers and on valuations. A prolonged midcap index crash can follow if oil stays high, while a drop in crude can help the market recover quickly. Because these links are well known, watching Brent alongside the midcap index crash gives context that the index alone does not.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sector_View_in_the_Midcap_Index_Crash\"><\/span><strong>Sector View in the Midcap Index Crash<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Midcap index crash: sector<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Stocks hit on 23 Oct 2026<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Consumer internet<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Swiggy (down 15.07%), Urban Company (down 7.86%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Real estate<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Lodha Developers (down 6.16%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Financial services and banks<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Motilal Oswal Financial Services (down 6.12%), Karur Vysya Bank (down 6.87%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Electricals and cables<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Havells India (down 6.06%), KEI Industries (down 5.20%), TD Power Systems (down 7.21%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gas distribution<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Adani Total Gas (down 5.41%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Technology and electric vehicles<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Netweb Technologies (down 7.42%), Ola Electric Mobility (down 7.23%)<\/td>\n<\/tr>\n<\/table>\n<p>The sector spread shows the midcap index crash is a market-wide risk-off move and not a single theme. Investors who track the midcap index crash should check how their own holdings fit into these groups before reading anything into the headline.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Watch_Next_After_the_Midcap_Index_Crash\"><\/span><strong>What to Watch Next After the Midcap Index Crash<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>The closing levels of the Nifty Midcap 100 and Smallcap 100 against today&#8217;s lows<\/li>\n<li>Brent crude near $114 and any news from West Asia<\/li>\n<li>The Nifty 50 low of 22,372 as a short-term reference<\/li>\n<li>Q2 results from midcap companies, especially on margins<\/li>\n<li>Foreign and domestic institutional flows in the coming sessions<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Midcap index crash on 23 Oct took the Nifty Midcap 100 down more than 3% and the Smallcap 100 about 4% at the lows, on a Brent crude spike, inflation worry and weak results from Swiggy. The weekly falls of 6.3% and 7.8% show the pressure is building. Check closing levels and decide on your own horizon.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Why_are_midcaps_falling_today\"><\/span><strong>Why are midcaps falling today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main reasons are a Brent crude spike to $114.70, worry that higher inflation will squeeze margins, early gains that were pared and soft Q2 results from Swiggy. Midcaps usually fall faster than large caps when the market turns weak.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_did_the_midcap_index_fall_on_23_Oct_2026\"><\/span><strong>How much did the midcap index fall on 23 Oct 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Nifty Midcap 100 fell as much as 3.2% from its open of 57,019.20 to a low of 55,208.95. Around 2:30 PM the Nifty Midcap 50 was down about 2.45%, so part of the fall had recovered.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_did_the_smallcap_index_fall\"><\/span><strong>How much did the smallcap index fall?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Nifty Smallcap 100 hit a low of 17,571.60, about 3.9% below the previous close of 18,275.90 by my calculation. At about 2:30 PM it was at 17,781.75, down 2.70%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_midcap_stocks_fell_the_most\"><\/span><strong>Which midcap stocks fell the most?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Swiggy fell 15.07% to a fresh 52-week low, followed by Lodha Developers at 6.16%, Motilal Oswal Financial Services at 6.12% and Havells India at 6.06%. In smallcaps, Urban Company fell 7.86%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_midcaps_fall_more_than_large_caps\"><\/span><strong>Why do midcaps fall more than large caps?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> They have lower liquidity, often higher valuations after a run, less pricing power against rising costs and more flow-driven trading. These traits make them rise faster in good times and fall faster in bad times.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_have_midcaps_done_over_the_past_week\"><\/span><strong>How have midcaps done over the past week?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Nifty Midcap 100 is down 6.3% and the Nifty Smallcap 100 is down 7.8% over the past week, according to Upstox. Today&#8217;s fall extends that slide.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_should_investors_watch_after_the_midcap_index_crash\"><\/span><strong>What should investors watch after the midcap index crash?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Watch the closing levels, Brent crude, the Nifty 50 low of 22,372, Q2 results and institutional flows. This is educational and not investment advice.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Why are midcaps falling today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main reasons are a Brent crude spike to $114.70, worry that higher inflation will squeeze margins, early gains that were pared and soft Q2 results from Swiggy. Midcaps usually fall faster than large caps when the market turns weak.\"}},{\"@type\":\"Question\",\"name\":\"How much did the midcap index fall on 23 Oct 2026?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Nifty Midcap 100 fell as much as 3.2% from its open of 57,019.20 to a low of 55,208.95. Around 2:30 PM the Nifty Midcap 50 was down about 2.45%, so part of the fall had recovered.\"}},{\"@type\":\"Question\",\"name\":\"How much did the smallcap index fall?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Nifty Smallcap 100 hit a low of 17,571.60, about 3.9% below the previous close of 18,275.90 by my calculation. At about 2:30 PM it was at 17,781.75, down 2.70%.\"}},{\"@type\":\"Question\",\"name\":\"Which midcap stocks fell the most?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Swiggy fell 15.07% to a fresh 52-week low, followed by Lodha Developers at 6.16%, Motilal Oswal Financial Services at 6.12% and Havells India at 6.06%. In smallcaps, Urban Company fell 7.86%.\"}},{\"@type\":\"Question\",\"name\":\"Why do midcaps fall more than large caps?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"They have lower liquidity, often higher valuations after a run, less pricing power against rising costs and more flow-driven trading. These traits make them rise faster in good times and fall faster in bad times.\"}},{\"@type\":\"Question\",\"name\":\"How have midcaps done over the past week?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Nifty Midcap 100 is down 6.3% and the Nifty Smallcap 100 is down 7.8% over the past week, according to Upstox. Today's fall extends that slide.\"}},{\"@type\":\"Question\",\"name\":\"What should investors watch after the midcap index crash?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Watch the closing levels, Brent crude, the Nifty 50 low of 22,372, Q2 results and institutional flows. This is educational and not investment advice.\"}},{\"@type\":\"Question\",\"name\":\"Is this article investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Midcap index crash on 23 Oct: Nifty Midcap 100 fell over 3% and Smallcap 100 about 4%. Brent at $114.70, inflation worry, Swiggy&#8217;s 15% fall, top losers and what to watch.<\/p>\n","protected":false},"author":28,"featured_media":325424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[15477,15480,15471,15475,15479,15473,15474,15476,15478,15472],"class_list":["post-325425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-brent-crude-impact","tag-market-fall-today","tag-midcap-index-crash","tag-midcap-stocks-today","tag-midcap-top-losers","tag-nifty-midcap-100","tag-nifty-smallcap-100","tag-smallcap-crash","tag-swiggy-52-week-low","tag-why-are-midcaps-falling"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["325424"],"rank_math_title":["Why Are Midcaps Bleeding? Midcap Index Crash Over 3%"],"rank_math_description":["Midcap index crash: Nifty Midcap 100 fell over 3% and Smallcap 100 about 4% on 23 Oct. See the reasons, Brent at $114, top losers, the weekly fall and what to watch."],"rank_math_focus_keyword":["midcap index crash"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/why-are-midcaps-bleeding-midcap-index-crash-of-over-3-hits-swiggy-havells-and.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/325425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=325425"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/325425\/revisions"}],"predecessor-version":[{"id":325426,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/325425\/revisions\/325426"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/325424"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=325425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=325425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=325425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}