Mad rally drives double-digit gains in 250 smallcap stocks in blockbuster December
equities had in December saw as many as 250 smallcap stocks giving double-digit returns in the month. However, the number was still far less than that in November.
In November, when Nifty 50 gave over 5% returns, 334 smallcap stocks registered double-digit returns.
Nevertheless, the smallcap segment bailed out the benchmark in 2023, with at least 238 companies with a market capitalisation of at least Rs 1,000 crore giving multibagger returns of up to 2,961%.
As for December, the Nifty 50 and Sensex rallied about 8%, giving the best monthly returns in 18 months and also the best in 2023. Meanwhile, the BSE Smallcap index gave 6% returns in the month, slightly underperforming the benchmark after several months of outperformance.
Double-Digit Gainers
Of the 250 stocks, around 40 of them also hit fresh 52-week highs during the months, data by Ace Equity showed.
Several stocks in the metals and mining space were part of the list of 250 stocks, with Sandur Manganese & Iron Ore shares topping the list, giving returns of 88% in December and also hitting a fresh 52-week high.
Jindal Stainless, Shyam Metalics, National Aluminium Co, Hindustan Copper, and Gallantt Ispat stock gained 14-86% in December.
Intellect Design, Angel One, Tata Coffee, Engineers India, Jubilant Pharmova, National Fertilizers, GMR Power, CESC, HUDCO, and Inox Wind were the other major gainers in the smallcap segment, rallying over 13-78%.
Stocks in the utilities sector were among the lead gainers in December, with 16 stocks giving double-digit returns. Topping the pack was Adani Green Energy which gained more than 55% after news of promoters infusing Rs 9,350 crore equity into the company.
