Over 35 smallcap stocks gain between 10-50% as Sensex logs weekly gain of 1%; Borosil, MRPL among gainers
BSE Sensex logging a marginal weekly gain as investors shift their focus to fundamentals and macroeconomic indicators. The frontline indices remained resilient in the face of fading expectations of early rate cuts by the US Federal Reserve. On the stock-specific front, Jubilant Industries, Force Motors, Sandhar Technologies, MRPL, Tips Industries, Borosil Renewables, 63 Moons Tech, Apollo Pipes, Novartis, HPL Electric & Power, Dilip Buildcon, Anuh Pharma, ASM Technologies, Strides Pharma Science and others are among the smallcaps that logged a double-digit rise in their share prices last week.
Markets traded volatile in the continuation to the prevailing consolidation phase but managed to edge higher. The beginning was subdued however gradual recovery in the following sessions not only pared losses but also helped the index to close around the week’s high. On the benchmark front, both Nifty and Sensex gained over a per cent each to settle at 22,040.70 and 72,426.64 levels respectively.
Most sectors traded in sync with the move wherein auto, IT, energy and banking were among the top performers. The BSE Midcap index closed almost a per cent higher. The BSE Smallcap index underperformed and closed flat for this week.
The broader indices oscillated sharply on both sides and eventually settled mixed. Overall, the broader, more domestically-focused small-caps of benchmarks fell 0.5 per cent and mid-caps added 0.5 per cent, underperforming the benchmarks, amid valuation concerns. "The shift to large-caps is imminent.
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