191 smallcaps shine with double-digit gains in a positive market week
market outperformed the benchmarks during the week as sentiments were in favour for growth-based stocks.
During the week, as many as 191 smallcap stocks delivered double digit returns with 13 of them gaining 25% or more. PTC Industries was leading the smallcap pack at 35%, followed by Avantel at 33% and Honda India Power at 30.47%.
About 21 stocks including Jubilant Industries, Reliance Infrastructure, Agarwal Industrial Corp, DCX Systems, Bajaj Hindustan, Dredging Corp among others have offered returns between 20-25% during the week.
In the midcap segment, nine stocks including Schaeffler India, Oil India, Oracle Financial among others have risen in double digits. While Schaeffler gained 16%, Oil India and Oracle were up over 13% each.
Among the Sensex pack, Ultratech Cement topped the charts with 7.4% returns, followed by Larsen and Toubro at 4.3% and Power Grid at 3.9%.
The outcome of the Fed meeting was hawkish during the week as market expectations have shifted from two rate cuts in CY24 to just one. However, the stability of US inflation provided some relief.
What should investors do?
Next week will be a truncated one with investors enjoying a long weekend due to Bakrid on Monday. The market is now awaiting fresh triggers, possibly a favourable budget which is likely to be announced next month.
On the macro front, domestic CPI data suggests a gradual decline in inflation. «Though the last mile towards the inflation target remains sticky, given the expectation of a normal monsoon, investors are hopeful
