Sensex-Nifty closed sluggishly this week, 10-36% rally seen in these 41 smallcap stocks

In the week ending September 9, there was a slowdown in the Indian market. The Sensex and Nifty saw a marginal gain of 0.30 per cent. However, small-medium stocks have outperformed the giants. Last week, the BSE Midcap index gained 1.32 per cent and the Small Cap index gained 1.24 per cent.

If we look at the stocks included in the Sensex, Bharti Airtel was the top weekly gainer with a gain of 4.25 percent. After that HDFC stood second-third with a gain of 2.8 per cent and HCL Tech 2.08 per cent.

Along with this, Reliance Industries, Hindustan Unilever, Kotak Mahindra Bank and ITC saw an increase of about 1 percent in this period.

On the other hand, NTPC was the top loser of the Sensex index last week with a fall of 2.18 per cent. After that Sun Pharma, Bajaj Auto, Tata Consultancy Services, Bajaj Finance, Power Grid Corporation of India, Larsen & Toubro and Axis Bank also saw a decline of 1-1.62 per cent. If we look at the Sensex pack, out of the 30 stocks included in it, 16 stocks have gained.

Vinod Nair of Geojit Financial Services says that the increasing cases of Covid-19 all over the world have increased the concern of the market. The US job data has been weaker than the market forecast, although this has given the market hope that the US Fed will stick to its policy of supporting the economy in the absence of any major improvement in the job data.

If we look at the BSE Midcap, Vodafone Idea shares gained 15.56 percent last week. Similarly, IRCTC, Adani Green Energy, Future Retail, Voltas and JSW Energy saw an increase of 10-15 per cent.

On the other hand, shares of ICICI Securities fell 6 per cent during this period and proved to be the top loser of the BSE Midcap index this week. Apart from this Apollo Hospitals Enterprises, Exide Industries, Bank of India, Motilal Oswal Financial Services and MRF. There was a decline of 3-6 per cent in

If we look at BSE Small Cap, there were about 41 stocks this week, which saw a jump of more than 10 percent, while 11 stocks included in these, which saw a gain of more than 20 percent on a weekly basis. Dish TV India, Jindal Worldwide and Zen Technologies saw gains of 36 per cent, 34 per cent and 33 per cent, respectively.

On the other hand, selling was seen in Karda Construction, Inox Wind, Steel Strips Wheels and PTC India of BSE Smallcap Index.

Ajit Mishra of Religare Broking says that we are seeing time wise correction in Nifty and it is circling in the range of 17,250-17,400. If a breakout is seen on any side above or below this range, then the direction of Nifty will be clear. During this time traders should keep a positive trend on the market. However, while being shocked, a position should be made on both sides. He further said that next week the market will react to the inflation data on September 13 in the opening trade.

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