Smallcaps outperform in volatile week; these stocks give double digit return
Introduction:
Smallcaps stocks give 2 digit return: In a choppy week, small-cap stocks excel; they deliver double-digit returns.
This decline is expected to last until 19778–80000, where resistance is located in the shape of the 20-day moving average and the 50% Fibonacci retracement level. Jatin Gedia is a technical research analyst at Sharekhan by BNP Paribas.
Vascon Engineers, Sasken Technologies, Bhagiradh Chemicals and Industries, Authum Investment & Infrastucture, Raghav Productivity Enhancers, and Good Luck India all saw gains of 20 percent, helping the BSE Small-cap index rise by 0.8 percent.
Smallcaps stocks give 2 digit return
The Indian equity indices ended the shortened week on a flat note amid mixed cues, including aggressive selling by foreign investors, elevated global bond yields, and the strengthening of the US dollar in the first half of the week. However, in the second half of the week, recovery in Crude Oil Prices, bond yields, and as anticipated policy action by the RBI led recovery.
Nifty50 gained 15.2 points to end at 19,653.50, while BSE Sensex gained 0.25%, or 167.22 points, to close at 65,995.63.
BSE Large-cap Index was flat, BSE Mid-cap Index fell 0.8 percent, and BSE Small-cap Index rose 0.8 percent.
Financial Services
The domestic market struggled with volatility throughout the week as concerns about rising crude oil prices, inflationary pressures. Possibility of another rate hike by the Fed increased. The appeal of local indices for international investors was reduced by rise in US bond yields and volatility in the INR.
Furthermore, the market is seeing significant resistance at higher levels due to poor liquidity. A lack of triggers to encourage purchasing, according to Vinod Nair, Head of Research, during Geojit Financial Services.
IT companies
“Throughout the week, the pharma sector saw high purchasing interest as investors. It adopted a protective stance in reaction to global uncertainty, while IT companies declined due to negative global cues. However, the market ended the week on a bullish note, supported by strong industrial growth that was up 12% YoY.
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