Smallcap rally fizzles out! Only 38 double-digit weekly gainers as India-Pakistan tensions escalate
The smallcap rally, which saw over 100 stocks delivering double-digit returns in the previous week, lost momentum sharply in the week gone by as only 38 stocks managed to clock double-digit gains. Analysts attribute this to profit booking set in after the recent sharp run-up.
ADVERTISEMENT Rajratan Global Wire topped the smallcap gainers list with a 32% weekly gain, followed by Thyrocare Technologies (27.5%), Best Agrolife (27.4%), Peninsula Land (26.8%), and Carraro India (26.2%).
Nearly 30 smallcaps, including Manorama Industries, Tanfac Industries, Mufin Green Finance, Butterfly Gandhimathi, and Welspun Specialty Solutions, delivered healthy weekly gains in the 10–20% range.
In the midcap space, AU Small Finance Bank was the top performer, gaining 15%, followed by Tata Elxsi (14.5%), Coforge (12.1%) and Mphasis (11.6%).
Among Sensex constituents, Tech Mahindra led the pack with an 11.9% gain, followed by HCL Technologies (9.8%) and Mahindra & Mahindra (6.8%). The sharp cooling in the number of double-digit gainers highlights that smallcap sentiment has turned cautious after last week's euphoria, with investors becoming more selective ahead of the earnings-heavy weeks ahead.
ADVERTISEMENT
Looking ahead, analysts expect stock-specific action to dominate with earnings season picking up pace. Foreign investors are likely to be on a wait-and-watch approach in the near term to overview the geopolitical tension.
"However, India has historically shown resilience during such periods given the buoyant nature of its domestic economy. For long-term investors, it is fair to take this as an opportunity to accumulate quality stocks/sectors during further dips for long-term gains," said Vinod Nair, Head of Research, Geojit Financial Services.
ADVERTISEMENT On the technical front, analysts say caution remains the need of the hour."Nifty has slipped after a consolidation on the daily chart, indicating a rise in bearish sentiment. Additionally, the index has fallen below its 200-DMA, signaling a potential re-entry into a bearish trend. Support is placed at 23800/23515 levels," said Rupak De, Senior Technical Analyst at LKP Securities.
ADVERTISEMENT
With data inputs from Ritesh Presswala
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times.)
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
United News of India
11 minutes ago
- United News of India
Sensex slumps by 573.38 points
Mumbai, Jun 13 (UNI) Continuing its downward streak for the second Straight session, BSE Sensex on Friday fell further by 573.38 to settle at 81,118.60, mirroring weak cues from global peers and foreign institutional outflows, amid geopolitical concerns in the Middle East and a sharp spike in Brent crude oil prices. National Stock Exchange (NSE) too fell by 169.60 points to settle at 24,732.15 The Sensex opened at 80,427.81 against its previous close of 81,691.88 and plunged to an intraday low of 80,354.59, It recorded the day's high of 81,238.68. The NSE registered a day's high at 25,196.20 and a day's low at 24,825.90. Mid-cap declined by 0.32 pc and the Small-cap fell by 0.30 pc. The market breadth was Negative. On the BSE, 1,548 shares rose and 2,436 shares fell. A total of 136 shares were unchanged. On Sectoral front barring Health care and Realty which were up by 0.08 pc and 0.13 pc respectively, all other sectoral ended the session on weak note with Bank being the top sectoral loser down by 1.01 pc other loser were Energy by 0.63 pc, FMCG by 0.94 pc, Financial by 0.85, Industrial by 0.05 pc, IT by 0.09 pc, Telecom by 0.67 pc, utilities by 0.91 pc, Auto by 0.33 pc, capital goods by 0.01 pc, Consumer Durables by 0.49 pc, Metals by 0.81 pc, Oil & Gas by 0.57 pc Power by 0.75 pc and Teck by 0.08 pc In 30 scripts, 4 advanced while 26 declined. Notable loser were Adani ports by 2.61 pc to Rs 1,406.70, ITC by 1.67 pc to Rs 413.90, Indus bank by 1.52 pc to Rs 817.15, SBIN by 1.49 pc to Rs 793.65, HDFC bank by 1.15 pc to Rs 1,919.60, and Titan by 0/95 pc to Rs 3,418.65. Gainers were Tech Mahindra by 1.02 pc to Rs 1,660.50, TCS by 3,446.25. Sun Pharma by 0.23 pc to Rs 1,690.85 and Maruti by 0.16 pc to Rs 12,401.55 Dow Futures plunged over 600 points on the rising tension. Adding to that, the early cues from Asia are not encouraging at all. Most markets are trading in the red. Japan's benchmark Nikkei 225 slumped 1.28 pc while the Topix lost 1.22 pc. South Korea's Kospi was down nearly 1 pc, and the small-cap Kosdaq declined 1.82 pc ., UNI JS BD
Mint
an hour ago
- Mint
Sensex, Nifty 50 extend losses to second consecutive session— 10 key highlights from Indian stock market today
Indian stock market benchmarks — the Sensex and the Nifty 50 — closed in the red on Friday, June 13, extending losses for the second consecutive session amid heightened tensions between Israel and Iran and lingering uncertainty over US tariffs. The Sensex ended the day with a loss of 573 points, or 0.70 per cent, at 81,118.60, while the Nifty 50 fell 170 points, or 0.68 per cent, to 24,718.60. The BSE Midcap and Smallcap indices closed 0.32 per cent and 0.30 per cent lower, respectively. Volatility index India VIX jumped 7.59 per cent to 15.08, indicating elevated nervousness among market participants. Israel's military strike on Iran spooked investors, while foreign capital outflow amid stretched valuations of the domestic market also kept the market down. A sharp jump in crude oil prices, the rupee's fall against the US dollar and persisting uncertainty about the US tariffs also contributed to the market downtrend. "Indian equity benchmarks experienced downward pressure, driven by weak global cues and foreign institutional outflows. Market sentiment was notably impacted by heightened geopolitical tensions following Israel's military strike on Iran, which significantly increased risk aversion among investors," said Vinod Nair, Head of Research, Geojit Investments. Bharat Electronics (BEL) (up 2 per cent), ONGC (up 1.28 per cent) and Tech Mahindra (up 0.83 per cent) ended as the top gainers in the Nifty 50 index. One stock- Shriram Finance- ended flat. As many as 38 stocks ended in the red in the Nifty 50 pack, with Adani Ports and Special Economic Zone (down 2.27 per cent), ITC (down 1.67 per cent) and SBI (down 1.57 per cent) ending as the top losers. Most sectoral indices ended in the red, with banking and financial sectors losing significantly. Nifty Bank, Financial Services, PSU Bank and Private Bank indices lost about a per cent each Nifty FMCG and Metal (down 0.96 per cent) indices also lost by a per cent. On the other hand, Nifty IT, Realty and Healthcare indices ended flat. Vodafone Idea (46.91 crore shares), GTL Infrastructure (42.6 crore shares) and KBC Global (22.50 crore shares) were the most active stocks in terms of volume on the NSE. Raj Oil Mills, Shah Metacorp, and Shipping Corporation of India were among the six stocks that rose more than 10 per cent on the NSE. (This is a developing story. Please check back for fresh updates.) Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
Economic Times
an hour ago
- Economic Times
IndiGo shares plunge 6% as promoter plans $1 billion stake sale
Shares of InterGlobe Aviation, which operates IndiGo, dropped nearly 6% to Rs 5,175 on Friday after reports suggested promoter InterGlobe Enterprises may sell around 4% stake via block deals. ADVERTISEMENT Sources told CNBC-TV18 that the promoter group is looking to raise about $1 billion through the sale. InterGlobe Enterprises currently holds a 35.70% stake in the company. The move follows ongoing stake reductions by co-promoter Rakesh Gangwal, who has sold shares worth Rs 40,000 crore since 2022. Gangwal now holds just 7.8% in the airline. IndiGo declined to comment on the development. 'We won't comment on the query,' the airline told of IndiGo had hit a 52-week high of Rs 5,474 earlier this week, supported by strong Q4 earnings and bullish commentary on international capacity expansion. However, Friday's slide reflects investor caution amid the overhang of large promoter offloading. Also Read: Why stock market is falling today? 4 key factors behind Sensex's 1,100-point crash, Nifty below 24,650 ADVERTISEMENT Meanwhile, investor caution also deepened after an Air India Boeing 787-8 Dreamliner crashed shortly after takeoff from Ahmedabad en route to London, killing all 241 onboard. Preliminary visuals showed the aircraft losing altitude and crashing into a residential area. The cause is under geopolitical tensions added further pressure. Israel launched strikes on Tehran, targeting nuclear and missile facilities in what it called a 'preemptive strike.' Iran confirmed the death of a top Revolutionary Guards commander, and Israel declared a state of emergency fearing retaliation. U.S. Secretary of State Marco Rubio termed the strike a "unilateral action," saying the U.S. was not involved. ADVERTISEMENT The conflict pushed Brent crude up nearly 10% intraday to $78.50 a barrel — its highest level since January — and up 12% for the week. WTI also surged over 9% to $74.47. 'This could have deep economic consequences if tensions escalate further,' said Dr. V K Vijayakumar of Geojit Financial Services. 'A retaliatory move like blocking the Strait of Hormuz could squeeze global supply and lift oil prices even higher.' ADVERTISEMENT With aviation fuel making up a significant share of airline costs, the crude spike amplified concerns over margins, adding to the sector's selloff. Also Read: SBI, Bank of Baroda among 10 banks that saw NPA decline in Q4 (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
