These 50 smallcap stocks rose 15-50% as Sensex logs third weekly gain led by IT; do you own?
As many as 50 small-cap stocks registered a double-digit rise in their stock prices – in the range of 15-40 percent last week, as the 30-share BSE Sensex logged its third consecutive weekly gain, supported by a surge in technology information (IT) stocks on global interest rate forecasts to moderate with strong US markets.
On a stock-specific basis, 45 small-cap stocks posted gains in the range of 15 percent – 50 percent last week, outperforming the index. Sharda Motor, RattanIndia Power, Orient Green Power, MSP Steel & Power, 63 Moons Tech, Titagarh Railsystems, Tata Investment, Nesco, Varrox Engineering, Dilip Buildcon, Antony Waste Handling, GE Power India, DB Realty, KPI Green Energy, Jain Irrigation , DCX Systems, IFB Industries, SMC Global, Solar Industries are among the small caps that logged a double-digit rise in their share prices last week.
Markets Weekly Print
Domestic markets extended their bullish tone for the third week in a row and gained more than one percent. The start was bearish but the trend changed in the following sessions with a boom in the US markets.
The NSE Nifty 50 index gained 1.58 percent this week, the best in two months, while the Sensex rose 1.37 percent. Stocks of IT companies, which earn a significant share of their revenue from the US, climbed 5.07 percent, their best week in 16 months.
The rise follows softer-than-expected US inflation data on October 14, adding to expectations that the US Federal Reserve will not raise rates and may start cutting rates in May 2024.
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Updated: 18 November 2023, 09:31 PM IST
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