These 33 smallcaps offer double-digit weekly negative returns in volatile market
During the week, about 33 smallcap stocks delivered double-digit weekly negative returns with six of them losing over 15% returns.
MMTC fell the most during the week at 18.4%, followed by Sterlite Tech (-17.8%), Ion Exchange (-16.7%), and Kamdhenu Ventures (15.83%).
Only eight stocks in the smallcap space delivered double-digit returns. Black Box was the top gainer in the week with 20.64% returns.
In the midcap segment, none of the stocks have offered double-digit gains.
Shares of Ipca Labs and Trent increased the most at 4.94% and 4.28% respectively.
Almost all the Sensex constituents, barring HCL Tech and Axis Bank ended the week in red.
Domestic indices displayed some recovery in the last trading day of the week, due to favourable US GDP growth in the third quarter and moderating US inflation leading to moderation in bond yield.
What should investors do?
Going forward, analysts say decent Q2 results, which were in line with optimistic estimates, may support the market's rebound from current levels. However, the volatility of the global markets, marred by geopolitical tensions, are expected to delay the recovery trend back home.
«Amidst the ongoing market consolidation, sectors such as FMCG, consumption, fertilizers, and core segments like infrastructure, housing, are expected to present potential growth opportunities,» said Vinod Nair, Head of Research at Geojit Financial Services.
«In the short-term, market sentiment remains cautious, with investors closely monitoring developments in West Asia, upcoming corporate earnings, and key economic data, including domestic PMI figures to be announced next week,» Nair added.
Technically, the short-term trend of Nifty seems to have reversed on the upside and the
