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More than 100 stocks have slipped up to 30% from record highs hit in April

The S&P BSE Midcap index rose 1.2 percent, while the S&P BSE Sensex rallied 4 percent or nearly 1,200 points from April, but more than 100 stocks have slipped from their record highs with cuts as deep as 30 percent.

The recent trend seen in markets suggests that small and midcap stocks, which rallied ahead of expectations, could face some profit booking and this theory has already started to reflect in prices.

Almost 60 stocks saw double-digit cut after hitting record highs in the month of April despite strong momentum seen in benchmark indices which rose to a fresh lifetime high of 31,214.39 on the S&P BSE Sensex and 9,637.75 on the Nifty.

Stocks which have plunged from record highs include names like Delta Corp (down 32 percent), Jubilant Lifesciences (down 22 percent), Biocon (20 percent), SpiceJet (19 percent), Future Retail (down 18 percent), V-Guard (18 percent), and Max Financial (17 percent) etc. among others.

The equity market has rallied in recent trading session recording their lifetime highs for both Nifty & Sensex. Similarly, a midcap index surged by nearly 30 percent so far in the year 2017.
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