Midcaps outperform Sensex despite low volumes

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Midcaps outperform Sensex despite low volumes

The midcap space is outperforming the Sensex. The advance decline is close to 1:4 and is worrisome. Many of the midcap stocks that are losers are actually the ones with the highest volumes, reports CNBC-TV18 analyst Niraj Shah.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets Bang Overseas BSE | NSE 01/06/12 Are Mutual Funds betting on Bang Overseas? Other Stocks in this news Gujarat NRE Coke | Hexaware Technologies | Shriram EPC |

By Niraj Shah, CNBC-TV18

The midcap space is outperforming the Sensex . The advance decline is close to 1:4 and is worrisome. Many of the midcap stocks that are losers are actually the ones with the highest volumes.

All the sugar stocks are down between 3-7% in the midcap space, especially the northern sugar stocks. The reason is that the Supreme Court ruling on pricing is on Thursday. After seeing a significant run for the past two or three days, the stocks are actually starting to correct. If the ruling is not positive, it will be a bit of a dampener for the sugar space.

Talking about stocks with high volumes, the banking space stands out. The volume for all the stocks is very high in today's trade and that is standing out. 

In case of new listings, Bang Overseas is down 10% on very heavy volumes. Shriram EPC is barely holding up. But the volumes are very high.  After the block deal, Hexaware is up 9%. Gujarat NRE Coke is also up 9% and has pretty healthy volumes.

Barring a few exceptions, the midcap space was outperforming the Sensex. But the volumes and the breadth are a bit negative.