Key Points
As elevated valuations cap the upside in the broader market, smallcap rally was subdued but steady with 52 stocks gaining in double digits during the week..
Mid and smallcaps had witnessed strong rallies over the past few months thus making valuations a little stretched...
Going forward, analysts said caution prevails in the market ahead of the release of US, UK, and Indian inflation data next week, while the US 10-year yield is inching higher...
"We expect the market to turn cautious and consolidate in the near term amid key macro data to be announced and the last leg of Q3 results," said Siddhartha Khemka, head of retail research at Motilal Oswal...
"While our market awaits some potent triggers to come out of the slumber phase, we would advocate traders to keenly focus on global developments as they might act as a catalyst to set up near-term trends while focusing on stock-specific action for an outperformance," said senior analyst of technical & derivative research, Angel One...
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