Over 45 smallcap stocks rose 10-30% as Sensex logs fourth straight weekly gain; do you own?
BSE Sensex logged its third successive weekly gain, supported by auto and pharma sectors. On the stock-specific front, Munjal Auto, Summit Securities, Talbros Auto, 63 Moons Tech, Tata Investment, GE Power India, PCBL, Titagarh Railsystems, DCX Systems, Railtel Corporation of India, Jindal Stainless, SpiceJet, MSP Steel & Power, Texmaco Rail, and others are among the smallcaps that logged a double-digit rise in their share prices last week. Markets consolidated in a narrow range and ended marginally higher, taking a breather after the recent surge.
After the muted start, the benchmarks tried to regain strength in the following sessions but mixed signals from the global front and divergence among the heavyweights capped the move. On the weekly front, the BSE benchmark climbed 175.31 points or 0.26 per cent, and the Nifty advanced 62.9 points or 0.31 per cent. IT lost 0.42 per cent this week and 0.97 per cent on the day.
IT companies, which earn a significant share of their revenue from the US, had jumped 5.07 per cent last week, their best in 16 months. Realty extended its winning streak to the fourth week, when it added about 1.5 per cent. The stocks jumped 20.57 per cent over the last four weeks, aided by strong quarterly earnings and steady demand outlook.
Pharma stocks advanced 0.95 per cent. The stocks have gained in seven of the eight sessions since the release of soft US inflation data on November 14. The more domestically focussed small-caps lost 0.39 per cent this week, and no longer outperformed the blue-chips.
Mid-caps rose 0.57 per cent. Small- and mid-caps have gained 42 per cent and 33 per cent, respectively, so far in 2023, outperforming a 9.33 per cent rise in Nifty 50. "We advise caution in the small- and
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