Small Caps outperform for second day in a row

Despite paring gains at close, the BSE Small Cap index outperformed the broader market by a significant margin. While the Sensex shed 2.3% and the Mid Cap ended flat, the Small Cap gained 2.5% at 5,342.

In the process, the Small Cap has advanced 11.7% in the last two days and has zoomed nearly 25% so far this week.

Out of 464 stocks in the Small Cap index - 335 advanced and 127 declined today.

Donear Industries and Hinduja Ventures zoomed 20% each to Rs 33 and Rs 210, respectively. Astra Microwave, PNB Gilts, Shriram EPC, ABG Infralog, City Union Bank, Satra Properties and JCT Electron surged 17-19% each.

Core Projects, Everonn, Texmaco, NIIT, Reliance Industrial Infra, Suven Life, JK Tyre, Rico Auto, Raymond, Prime Focus, Godavari Power, Cranes Software, Wire & Wireless, Ceat, Dalmia Cement, Dewan Housing Finance, Zandu Pharma, Foseco India, Gammon, United Beverage, Inox and Suashis Diamonds were the other major gainers.

Entertainment Network tumbled 10% to Rs 210. Jyoti Structures, Arshiya International and Kanani plunged around 8% each.

Bata India, Nesco, Page Industries, Bharat Bijli, Srei Infra, Kesoram Industries, Jindal Drilling, Swaraj Engines, Mercator Lines, Dredging and Supreme Industries were the other significant losers.
________________________________________________________

Updated at 1404 hrs

The BSE Small Cap index has emerged a significant winner for the second day in a row.  After yesterday's gains the Small Cap index opened up at 5,290. It surged 6% to a high of 5,541. The index is now up 5.5% at 5,495. In the process, the index has zoomed 14% in the last two days so far.

NIIT has skyrocketed 21% to Rs 41.40. Donear, Hinduja Ventures, Prime Focus, Texmaco, Godawari Power, ABG Infra, Shriram EPC, Asta Micro, Mascon Global, City Union, PNB Gilts and Satprop have all zoomed 20% each.

Balkrishna, Jaibala, Vardh Textile, Shrenuj, Hinad, Everonn, Rico Auto, IOL, Cranes Soft, Reliance Industrial Infrastructure and Empee Dist are the other major gainers.

On the other hand, Kanani Industries has plunged 8% to Rs 575.

Vertex SPG, Grabal Alok, ENT Network, Karma Ispat, Bang and Geod have declined 3-4% each. Saraswati, Bajaj Electric, Anu Labs, Modern India, Spectacle, Revathi Equity and Tata Elxsi are also down.