The S&P BSE Sensex might have risen just about 0.6 percent but over 30 stocks from the small & midcap space gave 10-30 percent return for the week ended July 6.
As many as 34 stocks from the S&P BSE Smallcap index rose in double digits up to 31 percent in five trading sessions which include names like Arshiya (up 31 percent), MBL infrastructures (up 27 percent), Electrosteel Steels (up 27 percent), Alok Industries (up 26 percent) and MIC Electronics (up 26 percent).
On the losing side, as many as 27 companies saw double-digit cuts up to 27 percent for the week ended July 6 which include names like Hathway Cable, Kitex Garments, Den Networks, 8K Miles, Pincon Spirit, Vakrangee, JBF Industries, Uttam Galva, Kwality among others.
Trade war fears, the launch of JioGigaFibre, which weighed on telecom and cable TV stocks, kept the market under check. However, expectations of strong earnings from India Inc., monsoon rains, and hike in MSP rate helped D-Street to climb all wall of worries.
Stocks hitting all-time highs
The S&P BSE Smallcap index might have closed marginally in the positive territory but as many as 8 stocks from the S&P BSE Smallcap index hit a fresh all-time high for the week ended July 6.
Stocks which rose to fresh all-time high include names like Elctrosteel Steels, Graphite India, Garware-Wall Ropes, HEG, Tata Elxsi, Jubilant Foodworks, and Bata India.
While more than 150 stocks hit a fresh 52-week low in the S&P BSE Smallcap index which includes names like Hathway Cable, Kitex Garments, Kushal, 8K Miles, Shilpi Cable, NBCC, Jindal Stainless, Century Enka, Uttam Galva etc. among others.
The number of stocks hitting 52-week low was much higher than stocks hitting a 52-week high. The right investment strategy for investors should be to stay with stocks hitting highs and avoid averaging stocks which are hitting fresh 52-week lows.
source: https://www.moneycontrol.com/news/business/markets/more-than-30-stocks-gave-10-30-return-in-5-trading-sessions-7-stocks-hit-life-highs-2682791.html
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