60 smallcap stocks delivered double-digit returns in volatile market week

economictimes.indiatimes.com:

During the week, as many as 60 smallcap stocks have delivered double digit weekly returns with seven of them offering over 25% returns.Thangamayil Jewellery was the top gainer in the smallcap pack with over 50% return, followed by MSP Steel and Power (48.95%), Foseco India (29.07%), and Indo Borax (28.8%). About six stocks including Jai Balaji, Mukand, Jagsonpal, Vesuvius India, Gallantt Ispat, Texmaco Rail have offered returns between 20-25% during the week. In the midcap segment, about 10 stocks including REC, GMR Airports, Ajanta Pharma among others have risen in double digits.

While REC has gained 20.08%, GMR Airports and Ajanta Pharma were up over 14% each. The other stocks with double digit returns are Power Finance Corp, Colgate, Tata Communications, SJVN, ZEEM Motilal Oswal and ACC. Among the Sensex pack, NTPC topped the charts with nearly 8% returns, followed by Power Grid at 5.78% and Sun Pharma at 3.6%.

During the start of the week, a rate hike of quarter-point was expected from the US Fed, but the hawkish commentary leaving room for more hikes in the future spoiled sentiments.What should investors do? In the coming days, domestic earnings will remain a crucial driver, while global cues will also play a vital role in shaping market trends. Market will also keep an eye on the manufacturing data to be released next week both — globally as well as locally. Auto sector will be in focus as companies announce their monthly sales numbers.