Indian equity benchmarks extended their losing streak to a seventh consecutive session on Friday, with the Nifty 50 declining 1% amid rising oil prices and tensions in West Asia. However, the broader market indices significantly underperformed, with the Nifty Smallcap 100 falling 3.63% to hit a low of 17,611.40 and the Nifty Midcap 100 dropping 2.73% to 55,501.15. As per CNBC TV18, 99 out of 100 stocks in the Nifty Midcap index and 90 out of 100 stocks in the Nifty Smallcap index ended with losses on Friday, reflecting the severe pressure across market segments. The Smallcap index has declined around 8% over the past seven sessions, while only four of its 100 constituents traded in positive territory, with the remaining 96 in the red.
Swiggy emerged as the biggest laggard, plunging 16% following its quarterly results that revealed wider losses in its quick-commerce business during the September quarter of the 2026-27 financial year. The food delivery company had previously reported strong quarterly performance with EBIT increasing 22.1% year-on-year to ₹228.4 crore and EBIT margin expanding to 10.22%, but the latest results kept focus on profitability in the competitive segment. Multiple brokerages also cut their target prices for Swiggy, citing concerns over its quick-commerce execution, profitability and competitive position. The results followed those of rival Eternal earlier this week, adding to investor concerns about the competitive dynamics in the quick-commerce space.
The broader market indices faced severe pressure with 96 of the Smallcap index's 100 constituents trading in the red. TD Power Systems was the biggest laggard, falling more than 8%, followed by Urban Company, Inox Wind, Ola Electric Mobility and Karur Vysya Bank, which declined up to 7%. Among other major midcap laggards, Motilal Oswal Financial Services, National Aluminium Company, Adani Total Gas and Mahindra & Mahindra Financial Services were among those falling up to 5%. The sustained selling pressure across market segments reflects broader investor concerns about market valuations and sector-specific challenges, with CNBC TV18 noting that good earnings stayed afloat, but the misses were punished and how.
Sagility India delivered robust performance with revenue growing 22.6% to ₹2,032 crore and EBITDA increasing 23.4% to ₹512 crore, maintaining an unchanged EBITDA margin of 25%. The company's board declared an interim dividend of ₹0.15 per equity share. CreditAccess Grameen showed strong financial metrics with net interest income rising 31.3% to ₹1,351 crore and assets under management increasing 19.5% to ₹30,946 crore. Century Extrusions completed its IPO allotment at ₹15 per share, while Varvee Global reported sequential growth with total income more than tripling to ₹27.68 crore from the previous quarter.
Adani Energy Solutions reported exceptional Q2 FY27 results with profit after tax increasing 145% year-on-year to ₹1,364 crore. The company's total income rose 51% to ₹10,239 crore, while reported EBITDA increased 67% to ₹3,548 crore. The strong performance was supported by transmission activities, smart-meter implementation and contributions from its energy solutions business. The company's business pipeline includes an aggregate transmission construction pipeline of approximately ₹87,000 crore and a smart-meter order book covering 24.6 million meters, indicating significant planned execution activity ahead.
