Key Points
As many as 30 smallcap stocks logged a double digit rise in their stock prices - in the range of 20-70 per cent last week, outperforming the 30-share BSE Sensex which logged its worst performance since the week ending October 27, dragged by information technology (IT) stocks..
On the stock-specific front, IFCI, Mangalore Chemicals, Rail Vikas Nigam Ltd, MTNL, Borosil Renewables, HFCL, MSP Steel and Power, RailTel Corporation, JK Tyre & Industries, NBCC (India), Oswal Greentech, IFB Industries, Andrew Yule, and others are among the smallcaps that logged a double-digit rise in their share prices last week...
Domestic equity benchmarks Nifty 50 and Sensex have fallen about 1.3 per cent each over the three sessions this holiday-truncated week, culminating in a second consecutive week of losses, primarily driven by weakness in the banking sector..
Notably, the PBOCs 0.5 per cent cut in the reserve ratio, aimed at stimulating growth and financial liquidity, provided short-term support to the domestic market this week, according to Nair..
Prashanth Tapse, Senior VP (Research) at Mehta Equities underscored that the market is witnessing a lot of volatility ahead of the Budget with a negative bias as investors further booked profits to cut down their long positions on the expiry day..
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