Small, Midcap Shares Plunge 12% Amid Profit Booking; Kaynes Tech, Bharat Dynamics Hit

• Small and midcap shares experienced sharp selling pressure, with some falling up to 12% due to profit booking.
• The Nifty Smallcap100 index declined for the fifth consecutive session, while the Nifty Midcap100 also slipped.
• Kaynes Technology India was a top loser, dropping around 12% after concerns about related-party disclosures.
• Other significant losers included Bharat Dynamics, Data Patterns, Reliance Power, and Godrej Properties.
• Broader market sentiment was weak, influenced by anticipation of the US Federal Reserve's policy meeting and continued foreign fund outflows.

Why It Matters: This signals a market correction and increased risk for small and midcap investors.