Around 134 out of 776 smallcap stocks closed in the green and out of which top 10 stocks rallied between 8 percent and 33 percent
The market remained in consolidation mode throughout the week and ended flat for the week ended May 3. The broader markets underperformed as BSE Midcap index shed 1.86 percent, Smallcap Index fell 1.79 percent and Largecap Index was down 0.41 percent in the week gone by.
Traders remained cautious amid ongoing Lok Sabha elections and earnings from India Inc. The rupee finished 80 paise higher at 69.22 on May 3 against the April 26 closing of 70.02.
Around 134 out of 776 smallcap stocks closed in the green and out of which top 10 stocks rallied between 8 percent and 33 percent.
These 15 stocks outperformed others among BSE Smallcap index are 63 Moons Technologies, Ruchi Soya Industries, Orient Green Power Company, Uniply Industries, Mirc Electronics, Signet Industries, DCM Shriram, FDC, Trent, Sharda Cropchem etc.
Among midcaps, 27 stocks out of 107 closed higher, of which 14 stocks gained upto 3 percent including- Jindal Steel & Power, Container Corporation Of India, KIOCL, Federal Bank, Ajanta Pharma and Bharat Forge.
Markets are expected to remain choppy the next few weeks due to the quarterly numbers of companies and the result outcome overhang. Among the various sectors, IT is expected to witness some cool down as it has run up a lot, said Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote.
Next week would have a normal number of trading sessions but there would be 5th phase of general elections out of total 7 phases. Key results, index heavyweight Bharti Airtel, ICICI Bank, Titan, HCL Tech etc will declare its March quarter results this week, said Manish Yadav, Head of Research, CapitalAim.
The market is likely to remain in consolidation mode in the coming week in the middle of Q4 earnings and election results.Mustafa Nadeem, CEO, Epic Research believes that the volatility will rise and may hurt any directional traders. Hence, it will be prudent to wait for a decisive break and enter the trend where there is momentum.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.