Connect with us

Business & Finance

Over 30 Smallcap Stocks Log Double-Digit Gains as Sensex Records Fourth Consecutive Weekly Increase; Tata Group Shares Among Top Performers

Published

on

Over 30 smallcaps log double-digit as Sensex posts fourth straight weekly gain; Tata Group stocks among gainers

Around 30 smallcap stocks experienced a significant increase in their stock prices last week, ranging from 10-45 percent. This surge was attributed to strong macroeconomic indicators and renewed foreign fund inflows, leading the benchmark BSE Sensex to record its fourth consecutive weekly gain. Notably, Tata Group stocks, including Tata Investment and Tata Chemicals, were among the gainers on the S&P BSE Smallcap index.

Several other smallcap stocks also saw a double-digit rise in their share prices, such as Rallis, Infibeam Avenues, MOIL, Schneider Electric Infra, Zen Technologies, JSW Holdings, Hindustan Copper, SMS Pharma, and Rico Auto. The Markets extended their gaining streak for the fourth successive week, with the NSE Nifty 50 rising 0.69 percent and BSE Sensex rising 0.51 percent, marking the best streak in three months.

The week started with a strong up move, bolstering the bullish trend, followed by relatively muted sessions in the middle. However, renewed buying in the final sessions helped the index close near the week’s high. Sectors like pharma, energy, and banking saw significant gains, while IT and Realty closed lower. The underperformance continued on the broader front, with the midcap index remaining stable and smallcap stocks shedding nearly three percent.

Analysts at Ambit Capital stated that the momentum in domestic equities could persist until the elections. Banking emerged as the most attractive sector in terms of valuations compared to the Nifty 50. Financials-linked indexes including financial services, banks, public-sector banks, and private banks witnessed gains ranging from 0.6 percent to four percent. However, small-caps faced a decline of 2.18 percent, while mid-caps registered a marginal increase of 0.36 percent. Prominent performers during the week included Bajaj Auto, which experienced its best week in three years with a gain of 10.44 percent, and Tata Motors, which rose by 6.33 percent driven by its plan to demerge into two listed companies managing commercial vehicles and passenger vehicles businesses.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Trending