Smallcap shares outperform; Future Consumer, eClerx Services, Vakrangee hit record high

Somani Ceramics, Sharp India, 3i Infotech, OK Ply India, Gokaldas Exports and Deccan Gold Mines rallied over 8% on the BSE.

Small-cap shares have outperformed large and midcap segments with the S&P BSE Smallcap index rallying over 1% on the BSE till 2 pm.

At 1:51 pm, S&P BSE Smallcap index was up 1.2% or 140 points at 11,503, as compared to 1% rise in S&P BSE Midcap and 0.2% gain in S&P BSE Sensex.

About 10 stocks -- APL Apollo Tubes, eClerx Services, Future Consumer Enterprises, Heritage Foods, High Ground Enterprise, Indo Count Industries, Kellton Tech Solutions, Kridhan Infra, SQS India BFSI and Vakrangee -- from the index have hit their lifetime highs.

Somani Ceramics, Sharp India, 3i Infotech and Gokaldas Exports have rallied more than 10% each, while Deccan Gold Mines, OK Ply India, Ashapura Minechem, Indo Tech Transformers and Sanghi Industries, by over 8% with heavy volumes.

The US Federal Reserve hiked the interest rates by 25 bps citing robust economic recovery. The Federal Reserve has hiked the interest rates in almost a decade as the economy recovers from the 2008 financial crisis. The Fed also reiterated its earlier stance, maintaining that further rate hikes would be gradual and data dependent.

Deccan Gold Mines locked in upper circuit of 10% at Rs 32.65 after the company announced that Deccan Exploration Services Private Limited (DESPL), its subsidiary plans to commence core and RC drilling at Ganajur-Karajgi PL block located in Haveri district, Mangalagatti PL block located in Dharwad district in the state of Karnataka by third week of December, 2015.

Kwality has surged 7% to Rs 118 on back of an over two-fold jump in trading volumes. A combined 2.49 million shares have already changed hands on the counter so far as against an average sub one million shares were traded daily in past two weeks on the BSE and NSE.

Dairy firm Kwality has said that it roped in Bollywood actor Akshay Kumar as brand ambassador for its entire range of products for a period of two years.