A volatile week sees more than 50 smallcaps increase by 10% to 41%

By admin

Sector-wise, the Nifty Realty index increased by 4.3 percent, Nifty Auto by 2.8 percent, Nifty FMCG by roughly 2 percent, and Nifty Media by 1.5 percent.

The highly volatile week that ended on October 13 saw mixed data, including a weak start to Q2 earnings, falling inflation, and IIP data at a 14-month high, while on the international front, ongoing geopolitical conflict, slightly higher US inflation, and persistent FII selling also dampened investor sentiment. Indian benchmark indices ended the week with marginal gains.

BSE Sensex increased this week by 0.43 percent, or 287.11 points, to close at 66,282.74, and Nifty50 increased this week by 97.5 points, or 0.49 percent, to finish at 19,751.

BSE Mid-cap, Small-cap, and Large-cap index increased by 0.7 percent, 0.8 percent, and 0.5 percent, respectively, among broader indices.

“Despite some global worries like rising global interest rates, geopolitical upheaval in the Middle East, and ongoing stress in the Chinese real estate sector, domestic equity markets returns were favourable this week. This week, benchmark indices including the Sensex, Nifty, BSE Midcap, and BSE Smallcap indices all recorded advances.

“Among the several industries, BSE Realty, BSE Metals, and BSE Energy all recorded positive weekly performance. The BSE IT index, in contrast, experienced a drop throughout the course of the week. There haven’t been many IT companies that have released their Q2FY24 results, and the prognosis for discretionary expenditure remains bleak. From last week’s lows, crude oil prices have made a small recovery this week. The yield on US 10-year bonds decreased from recent heights.

“In India, the August IIP jumped to 10.3 percent from a downwardly revised figure of 6 percent in July 2023, while the September CPI inflation decreased to 5 percent (from 6.8 percent in August). Depending on the financial results and management commentary for Q2FY24, market players can anticipate sector- or stock-specific movement over the coming weeks,” he continued.

The Nifty Realty index increased by 4.3 percent, the Nifty Auto index increased by 2.8 percent, the Nifty FMCG index increased by roughly 2 percent, and the Nifty Media index increased by 1.5 percent. Nifty PSU Bank index and Nifty Information Technology index both experienced declines of 3.2 and 1.6 percent, respectively.

This week saw more selling from foreign institutional investors (FIIs), who sold off shares worth Rs 2,199.99 crore. In the meantime, domestic institutional investors (DIIs) bought shares this week for Rs 3,937.66 crore.

The BSE Small-cap index increased by 0.8%. Gains of 20–41% were reported by ITI, Prakash Industries, MMTC, Omaxe, GFL, Shiva Cement, Shree Global Tradefin, Gujarat Mineral Development Corporation, SpiceJet, Jai Corp, PDS, and Avantel.