Closing Bell on October 25, 2023: In the broader market, the BSE MidCap index slipped 0.52 per cent and the BSE SmallCap 0.77 per cent as against the frontline indices' 0.8 per cent decline
Total 22 stocks from the Smallcap index including Suzlon Energy, GMR Power, Reliance Infra, PTC Ind, Genus Power, Patel Engg and HPL Electric were locked at their respective lower circuits on the BSE.
Around 40 stocks on the BSE SmallCap index scaled new record highs, including The Anup Engineering, Bector Food, Cholamandalam Fin, CMS Info, CreditAccess Grameen, RPG Life, Escorts, Inox Green
Aurionpro, BDL, Centum Electronics, Cigniti Techno, Data Patterns, Dreamfolks, Fusion Micro, IOX Exchange, KDDL, Mahindra CIE, Safari Ind and Syngene hit their respective all-time highs today
ABB, Alkem Lab, AU SFB, Cholamandalam Investment, Glenmark Pharma, IDFC First Bank, IGL, Indian Hotels, M&M Financial and Varun Beverages (VBL) hit their respective 52-week highs on the BSE.
In past four trading days, BSE smallcap index has rallied 5.3 per cent, as against 3.6 per cent rise in the S&P BSE Sensex.
Given the recent underperformance of the mid-and small-caps compared to their larger peers, analysts expect these two market segments, especially the small-caps, to catch up now
FPIs offloaded nearly Rs 2 trillion ($265 billion) in Indian equities during Samvat 2078, data show.
While investors dumped mid-and small-cap stocks as the markets remained choppy over the past few weeks, analysts still expect these two segments to see good interest from a medium-to-long term
The Smallcap index has fallen 9.2 per cent, so far, this month, recording its sharpest fall since February 2016
Gains in some of the stocks in these two segments have been phenomenal. Shares of Brightcom Group, for instance, zoomed over 2,500 per cent in 2021
A quick calendar year-to-date price check on the stocks from the categories put under 'Add-on Price Band Framework' by the BSE reveals a total of 210 stocks have seen their price more than double
A large part of this rally is attributed to the economic recovery over the past few months, which analysts feel will directly benefit small and mid-sized companies
The smallcap index hit an intra-day high of 21,299.84 points, and is 120 points away from its record high level of 21,419.84 touched on March 12, 2021.
In past one month, the BSE Smallcap index outperformed the market by surging 9 per cent, as compared to 4.7 per cent gain in the Midcap and 0.53 per cent risen in the benchmark Sensex.
The development, analysts say, has given a fresh trigger to the mid-and small-caps that can see some uptick in the days ahead
All that happened in the markets today
Going ahead, most analysts expect the mid-and small-cap segments to continue doing well as compared to their large-cap peers, which they feel are now fairly valued
As many as 27 stocks from the index have seen their stock price more than halve in a month
Sunflag Iron & Steel, Bhansali Engineering Polymers, Rane (Madras), CARE Ratings and Rane Brake Lining have rallied more than 30 per cent in the past one week.