These 34 smallcaps log double-digit rise even as Sensex records worst week in 15 months; do you own?
sold ₹10,164 crore worth of Indian equities and offloaded a total of ₹10,100 crore as of September 22, taking into account debt, hybrid, debt-VRR, and equities, according to National Securities Depository Ltd (NSDL ) data. Foreign institutional investors (FIIs) have sold ₹7,300 crore in the last three trading sessions and around ₹16,934 crore in Indian equities till September 21. Rising bond yields in the US and strong dollar index are negative for capital flows.
Strength in the US dollar index and the US 10-year bond yield remaining high are short-term negatives for FPI flows to emerging markets like India, according to analysts. "We are seeing some consolidation in the market after the benchmark indexes surged to all-time highs and global markets are weaker," said Ajit Mishra, senior vice president for research at Religare Broking. On Friday, Nifty 50 closed with a loss of 68 points, or 0.34 per cent, at 19,674.25 while the Sensex ended at 66,009.15, down 221 points, or 0.33 per cent.
Mid and smallcaps outperformed the benchmarks as the BSE Midcap index ended lower by 0.14 per cent while the BSE Smallcap index ended with a nominal gain of 0.04 per cent. On the week, the S&P Smallcap index declined 1.77 per cent dragged by Balmer Lawrie Investment, Cressanda Solution, Jupiter Wagons, GTL Infrastructure, PTC India, Cochin Shipyard, Jaiprakash Associates, RACL Geartech, among others. However, as many as 34 smallcap stocks gained in the range of 10-38 per cent in the week ended September 22, outperforming the index.
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