Stock market highlights on Tuesday, March 19: TCS was the biggest laggard on the benchmark indices, down 4 per cent after Tata Sons likely sold about 0.6 per cent stake in the company
With today's decline, the BSE Smallcap index has slipped 5 per cent from its record high level touched on February 7
Adds 1.2% this week, Small and midcaps underperform
Valuations of midcaps and smallcaps have reached very high levels, and hence to that extent leave little margin of safety, Sehgal said
Closing Bell on October 25, 2023: In the broader market, the BSE MidCap index slipped 0.52 per cent and the BSE SmallCap 0.77 per cent as against the frontline indices' 0.8 per cent decline
The S&P SBE Smallcap index has given a stellar return - rising over 32 per cent in 2023
India has been substituting expensive crude oil with cheaper imports. This has helped keep inflation-related concerns triggered by rising oil prices at bay
Despite global concerns, the domestic market structure remains positive on the back of healthy macro data, strong earnings, and recent FIIs buying, brokerage firm Motilal Oswal said in a note.
ABB, Alkem Lab, AU SFB, Cholamandalam Investment, Glenmark Pharma, IDFC First Bank, IGL, Indian Hotels, M&M Financial and Varun Beverages (VBL) hit their respective 52-week highs on the BSE.
Analysts remain cautious on mid-and-smallcap segments and suggest earnings need to catch up before the stocks start to recover
Some investment bankers argued that the reason for tepid fundraising through QIPs and rights could also be due to the fact that companies this year were not in need of large capital
In the aftermath of the pandemic, the BSE MidCap Index had risen for 14 consecutive weeks, clocking 29% gain
Small-cap index still down 17% YTD, even as Nifty50, mid-cap indices back in green.
The mid-and small-cap indices on the BSE were down over 1 per cent each as against a similar per cent gain on the S&P BSE Sensex so far this year.
Gains in some of the stocks in these two segments have been phenomenal. Shares of Brightcom Group, for instance, zoomed over 2,500 per cent in 2021
A quick calendar year-to-date price check on the stocks from the categories put under 'Add-on Price Band Framework' by the BSE reveals a total of 210 stocks have seen their price more than double
In past one month, the BSE Smallcap index outperformed the market by surging 9 per cent, as compared to 4.7 per cent gain in the Midcap and 0.53 per cent risen in the benchmark Sensex.
At 02:04 pm, the S&P BSE Midcap, the top gainer among broader indices, was up 1.5 per cent after hitting an intra-day high of 20,234 on the BSE
Higher earnings growth, lower costs, and valuations favour smaller companies
Continue to cede ground to family enterprises, private sector firms