New Delhi, March 18 -- The carnage in smallcap stocks during the recent market correction has been widely noted. The BSE SmallCap index's 24% plunge into bear territory from its 52-week high, with approximately a third of small caps declining 50% or more from their most recent highs, is a stark reminder of the risks in this segment. Interestingly, there is a lesser-known story regarding the relative resilience of certain sectors within this battered space.

A staggering 30% of BSE-listed firms are down 50% or more from their 52-week high, while around a third of small caps are down by half or more, showed a Mint analysis of nearly 3,900 companies. Alarmingly, this collapse is widespread, with over a third of smallcaps in eight out of 19 s...