Markets News

78 smallcap stocks moved up by 10-70% – Broader market outperformed

The last week was dominated by the bears. This made the benchmark indices ending below the crucial support levels.

The S&P BSE Sensex ended below its crucial support in the last session. It fell below its crucial support at 50,000 levels.

Moreover, the Nifty50 also closed below the 14,600 levels this week.

But a good thing also happened with the outperforming broader market.

While the Sensex fell by 3.5 percent the Nifty50 also closed with a 3.02 percent loss.

Moreover, the BSE Midcap index shed .028 percent whereas the Small-cap indices ended with 1.4% gain.

Investors incurred more than Rs 3 lakh crore loss for this week. In the wake of this, the average market capitalization of BSE listed companies also declined.

The BSE listed companies saw a decline from Rs 203.97 lakh crore to Rs 2008.81 lakh crore on February 26.

However, there are around 78 stocks under Smallcap index which moved up by 10-70 percent this week.

These stocks mainly included Jaiprakash Associates, jet Airways, Aban Offshore, Majesco, MMTC and also Hindustan Copper.

Also, the banking sector had a huge impact due to the rising bond yields as per experts. Moreover, the experts expect the market trend to be likely dependent on the long-term bond yield.

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