Over 50 smallcap stocks rise 10-40% as Sensex hits lifetime high driven by IT shares; do you own?

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BSE Sensex hit its fresh all-time high of 72,720.96 in the previous session and achieved weekly gain of 0.8 per cent, driven by a sharp rally of information technology (IT) stocks over robust quarterly results. A strengthening rupee and hectic buying on tech, realty and oil counters amid a mixed trend in global markets further bolstered sentiment, according to traders. On the stock-specific front, Wardwizard Innovations, Network18 Media, Suven Life Sciences, Easy Trip Planners, DB Realty, MRPL, Trident, Olectra Greentech, Dish TV, Suzlon Energy, Thomas Cook India, Man Industries, Karnataka Bank, PNB Gilts, and others are among the smallcaps that logged a double-digit rise in their share prices last week.

Also Read: FPIs invest ₹3,864 crore in Indian equities so far in January; Will inflows sustain in 2024? Indian markets ended a two-week long consolidation phase and settled around the week’s high. Weak global cues triggered a subdued start however buying in the select heavyweights prompted some recovery in the middle. On a weekly basis, the BSE benchmark jumped 542.3 points or 0.75 percent, and the Nifty 50 climbed 183.75 points or 0.84 per cent.

Nifty 50 is now just 100 points away from crossing another milestone of 22,000 zone. The IT index jumped 5.14 per cent, logging its best session since October 8, 2020, to hit a 21-month high. Market leaders Infosys and Tata Consultancy Services (TCS) emerged as the primary catalysts behind the surge in the Sensex index, concluding as the top contributors.