Exit laggards, buy largecaps: Experts

The markets failed to repeat yesterday's outperformance. The indices were hit by negative cues from across the globe and closed deep in the red.

The cues from global peers were weak as most of Asia ended down. Among Asian markets, the top laggard was Taiwan down 3.5%, followed by Hang Seng down 3%, and Nikkei down 2.5%.

The market ended near the day's low as heavy selling pressure was seen during the final hour of trade. The broader markets outperformed the benchmark indices. The Sensex was down 271.48 points, or 1.33%, at 20104.39 while the Nifty ended down 101.20 points, or 1.64%, at 6,058.10.

The BSE Midcap Index ended at 9,375.94 up 0.4% while the BSE Smallcap Index ended at 12,007.33 up 1%. Among sectoral indices, the BSE FMCG Index was the major gainer in today's trade, up 2% at 2,231.77.