Despite weak overall market sentiment, select small and midcap stocks have rallied impressively, with WPIL Ltd. seeing a remarkable 44.16% surge in just a week. Prudent Corporate Advisory Services gained 40%, closing the week at ₹3,577.65 on the BSE, with a notable 14.75% increase in the last trading session alone.
Other smallcaps like AMI Organics, Syrma SGS Technology, 63 Moons Technologies, and The Anup Engineering also gained between 30-40% this week. Coffee Day Enterprises, Force Motors, Poonawalla Fincorp, Mercury Ev-Tech, and Poly Medicure saw increases of 25-30%. The BSE smallcap index itself rose 6.3% on a week-on-week basis.
Midcap stocks also surged, with Gillette India leading the way, followed closely by Indian Bank, which saw a 17.2% increase. Other midcap gainers included Central Bank of India, Bank of India, JSW Infrastructure, Bank of Maharashtra, Punjab & Sind Bank, Rail Vikas Nigam Ltd. (RVNL), BHEL, Emami, and the Indian Renewable Energy Development Agency (IREDA), with weekly gains up to 16%.
Meanwhile, the broader Nifty50 index has fallen by 8% from its peak in September. October saw the largest-ever sell-off from foreign portfolio investors (FPIs), who withdrew a total of ₹1,13,858 crore from Indian equities. Globally, markets are watching for upcoming changes after the US presidential election, alongside fundamental shifts like the Fed’s rate decisions and US GDP growth that may further influence market trends.
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