Markets: Shares remain flat, small cap indices in red

Small cap inventory indices are in the red on Monday amid considerations over exuberance in the area. BSE Small Cap Index is down 0.68 per cent. BSE 250 Small Cap index is down 0.47 per cent. Small Cap Select Index is down 0.66 per cent.

The SEBI advisory to mutual funds relating to the extreme valuations in the mid and small cap schemes is more likely to restrain the efficiency of the broader market, says V Okay Vijayakumar, Chief Investment Strategist, Geojit Financial Services. The irrational exuberance in the broader section has no basic justification, he added.

In distinction, the benchmark BSE Sensex is buying and selling flat. Small and mid cap indices have outperformed the benchmark indices for months now.

In distinction, energy shares are displaying sturdy features with the facility index up greater than 2 per cent. BHEL is up 13 per cent, NTPC is up 4 per cent, Tata Power is up 3 per cent, Powergrid is up 3 per cent.

PSU shares are doing properly with the index up greater than 2 per cent.

(With inputs from IANS)