BSE Smallcap index hits new high; analysts advise caution while investing

Asian Granito, BASF India, GIC Housing and Federal Bank are among the 18 stocks that hit a new high

Shares of small-sized companies came back into action on Friday, with the S&P BSE Smallcap index hitting fresh record high of 15,759 on Friday, after a strong rally in oil exploration, auto ancillary and information technology (IT) stocks. The index surpassed its previous high of 15,750 hit on May 11, 2017 in intra-day trade.

Aban Offshore, Hindustan Oil Exploration Company, Selan Exploration Technology and Deep Industries from oil exploration, Aptech, Aurionpro Solutions, NIIT Technologies, Rolta and Datamatics Global Services from IT were trading higher by 3% to 8% on BSE.

At 10:11 am; the S&P BSE Smallcap index,