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Midcaps, smallcaps beat largecaps in delivery-based vol

Majority of companies whose delivery-based volume was between 100-70% were midcaps and smallcaps

Source: Moneycontrol.com
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When midcaps and small caps failed to participate in the 13000 rally, experts sounded wary of them and even advised caution to investors who planned to get into these companies. But now the story seems to have changed and midcaps seem to be again coming back into action.


The data of yesterday's deliverable volume of all the companies that were trading, suggested that majority of companies whose delivery-based volume was between 100-70% were midcaps and smallcaps.


There were as many as 1786 midcap and smallcap companies whose deliverable volume as of December 5 was as high as 100% and as low as 0.07%.


Some notable names in the midcap space that were trading at 100% deliverable volume were Ansal Housing , Bajaj Hindustan SugarLok Housing , Champagne Indage etc. Ansal housing was trading with volumes of 130968 shares, Bajaj Hindustan with 4232 shares, and Lok Housing with 249408 shares.


GHCL, iGate Global Solution , Dabur Pharma , Essel Propack are all midcaps that traded with a deliverable volume percentage in the 70-90% range, on the day the markets touched 14000 level.


GHCL's delivery based volume was at 87.3%. The total volume of the company on December 5 was 558746 shares and out of that 48777 shares were deliverable. iGate Global Solution traded with a total volume of 3382 shares and 85.81% of that volume was delivery based. Dabur Pharma's delivery based volume was 75.28%, which was 19914 shares out of the total 26454. And Essel Propack's delivery-based volume was at 90.07% of the total volume of 922103 shares.


And in the small cap space, stocks like Welspun Syntex , Networth Stock Broking, GIC Housing Finance , Geojit Financial Services , Tata Sponge Iron , had delivery-based volume as high as 100%, 100%, 90%, 81.02% and 69.28% respectively.


Interestingly, the number of frontliners that traded with a delivery based volume between 70-100% was less as compared to the number of midcaps and  smallcaps. Out of the total 191 large cap companies that were trading on December 5, only 34 frontliners traded in that range. Some of these are BF Utilities that was trading at 100% delivery-based volume, HDFC at 88.88%, Indian Oil at 73.25%, Nestle India at 97.32%.


According to experts, FIIs have been buying shares all across the sectors, and especially midcaps. They feel that foreign instituional investors have been seeing  good opportunities in this space and this is suggested by the fact that large number of block deals have been taking place in this space.


For instance, Citigroup Global Markets picked up 5 lakh shares of Donear Industries on December 1. HSBC Financial Services bought 5 lakh shares of Allianz Sec on Dec 1, which is a smallcap company. Around 105145 shares of Champagn Indage was bought by CLSA Mauritius at Rs 489.80 per share on December 1.


 


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