More than 30 stocks gave 10-30% return in 5 trading sessions; 7 stocks hit life highs

“Indian markets closed the day on a positive note ending below 10,800 levels. Positive monsoon expectation will help drive sales in the coming quarters,” Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas said

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.

“Indian markets closed the day on a positive note ending below 10,800 levels. Positive monsoon expectation will help drive sales in the coming quarters. We continue to maintain a positive view on the market and feel the governments focus on rural India, financialisation of savings, infrastructure spending will help companies,” Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas told Moneycontrol.

“We prefer stocks such as Max Financials with an upside of 32 percent and Persistent Systems with an upside of 16 percent,” he said.

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.

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