Triple Century! 336 smallcap stocks clock double-digit returns in Nov; scale 52-week highs
Further, last month, as many as 322 smallcap stocks hit fresh 52-week highs.
All the midcap and smallcap indices of BSE outperformed the benchmark Sensex and gave about 9-11% returns in November.
The easing of US bond yields and crude oil prices contributed to the recovery in the market last month. Bond yields eased following encouraging inflation data in the US, which strengthened the view that the interest rate hike cycle is closer to the peak.
Further, domestic macroeconomic indicators continued to be conducive and the corporate earnings were better than expected. This further bolstered the sentiment.
As a result, domestic-oriented sectors led the gains in November.
The five best-performing sectors were realty, oil and gas, healthcare, automobiles, and power.
As many as 27 stocks of automobile and auto component manufacturing space gave double-digit returns in November. These include Sandhar Technologies, Gabriel India, Ramkrishna Forgings, Amara Raja Energy & Mobility, Kirloskar Ferrous Industries, Gulf Oil Lubricants, Force Motors, TVS Srichakra, VST Tillers, Sharda Motor Industries, Minda Corporation, Lumax Industries, and Talbros Automotive Components.
In the capital goods space, around 24 stocks from the smallcap segment clocked double-digit returns and these include Astra Microwave Products, Praj Industries, KPI Green Energy, Sanghvi Movers, Elecon Engineering, IFGL Refractories, Voltamp Transformers, Hitachi Energy India, Vesuvius India, Bharat Electronics, BEML, Everest Kanto Cylinder, and Skipper.
The realty sector grabbed the limelight as robust demand drove pre-sales for most residential home makers.
