Exide, UTI AMC: 5 SmallCaps that hold promise in this market correction

Godfrey Phillips has been one of the key outperformers among SmallCaps thus far in 2024; presently the stock is seen testing support at its trend line, shows daily chart.

SmallCap stocks have witnessed a steep fall in recent trading sessions post reports of Sebi likely to tighten regulations with regards to investments in this space. That apart, talks of a likely bubble in SME pricing, listing too dented the sentiment.

Technically, the Nifty SmallCap indices have entered into a correction phase, as they have declined over 10 per cent from their recent peaks. The Nifty SmallCap 50 index has shed 12.8 per cent from its peak of 7,732 in February 2024. Similarly, the Nifty SmallCap 100 and SmallCap 250 have declined 12.6 per cent and 11.2 per cent, respectively, from