During the week, as many as 68 smallcap stocks delivered double-digit weekly returns with four of them offering over 25% returns.
DCM Shriram Industries was the top gainer in the smallcap pack with a nearly 32% return, followed by Sterling and Wilson (26.6%), Arihant Capital (26.55%), and DB Corp (25.03%).
About 12 stocks, including Mishtann Foods, Jai Balaji Industries, Ashapura Minechem, Newgen Software, Jagran Prakashan and LT Foods among others have offered returns between 20-25% during the week.
In the midcap segment, only three stocks, Polycab India, Mphasis and Union Bank have risen in double digits. While Polycab gained 18.3%, Mphasis and Union Bank were up 12% and 11%, respectively.
In the Sensex pack, banking stocks Kotak and SBI led the gains, followed by L&T and NTPC.
The record-breaking spree during the first few days of the week came to a halt on Friday because of poor quarterly numbers from Infosys, which cast a shadow over the outlook of the Indian IT sector.
What should investors do?
In the coming week, all eyes will be on the Fed meeting after inflation showed signs of easing. Analysts expect a 25-basis point rate hike, while commentary on future rate actions, including something on much-anticipated pause will be eyed.
With the result season picking up pace, there could also be a lot of stock-specific action which could provide direction to domestic equities.
Technically, analysts say Nifty is in for some consolidation given the sharp up move in the last few trading sessions.
“Overall, the uptrend is still intact, and we believe that this dip is a pullback and not a trend reversal. In terms of levels, 19677 – 19700 shall act as a crucial support zone, and on the upside 19,880 – 19,900 shall act as an immediate hurdle zone,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)