These 48 smallcap stocks rise 10-30% even as Sensex sheds 1% on volatile week; do you own?
As many as 48 smallcap stocks logged a double digit rise in their stock prices – in the range of 10-30 per cent last week, as the 30-share BSE Sensex ended October’s third week with a sharp loss of one per cent after five days of volatile sessions over geopolitical concerns arising on the Israel-Hamas-Gaza conflict.
Domestic equity benchmarks Nifty 50 and Sensex ended in negative territory for the third consecutive session on Friday, October 20, as concerns about potential interest rate hikes by the US Federal Reserve, and the ongoing war between Israel and Hamas kept investors on edge.
US bond yields surged to 17-year high mark at 5 per cent as Federal Reserve Chairman Jerome Powell said last week that more interest rate hikes may be required to bring inflation down to a 2 per cent target because of a tight labour market and resilient US economy.
Nifty 50 today closed at 19,542.65, down 82 points, or 0.42 per cent while the Sensex ended the day at 65,397.62, down 232 points, or 0.35 per cent. Mid and smallcaps suffered bigger losses. The BSE Midcap index fell 1.02 per cent while the Smallcap index dropped 0.76 per cent.
On the stock-specific front, as many as 48 smallcap stocks logged gains in the range of 10 per cent – 30 per cent last week, outperforming the index. Suzlon Energy, PNG Gilts, Ion Exchange, KIOCL, DB Corp, IRCON International, Jindal Saw, MSP Steel & Power, Gujarat State Fertilisers, Shakti Pumps, Newgen Software, Savita Oil, RPG Life Sciences, Asian Energy Services are among the smallcaps that logged a double-digit rise in their share prices last week.
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Updated: 21 Oct 2023, 06:50 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.