Among the smallcap pack, Optiemus Infracom has offered highest returns at nearly 33%, followed by Nucleus Software Exports and Schneider Electric Infrastructure, which rose 29% and 26% respectively.
Apart from the above, three other stocks in the smallcap space — Indiabulls Real Estate (23%), Hindware Home Innovation (20.78%), and Dixon Technologies (20.61%) — have offered over 20% returns during the week.
About 51 stocks including Onward Technologies, Shreyas Shipping, Voltamp Transformers, Zauti Agro Chemicals, Aptech, Fineotex Chemical, Suzlon Energy among others have given returns between 10-20% in the said period.
In the midcap segment, three stocks — Balkrishna Industries, CG Power and Bajaj Holdings and Investments — have offered returns in double digits.
In the Sensex pack, ITC was the top gainer, rising 5.57%. Sun Pharma, Tech Mahindra and Wipro were also leading the charts among the largecaps. Sectorally, S&P BSE IT index gained the most at 4%, followed by healthcare stocks at 3%.
What should investors do?
“Domestic investors traded cautiously during the week, however, driven by the strong growth forecast for the Indian economy, the market witnessed a smart recovery towards the end. The IT and pharmaceutical sectors rebounded due to bargain opportunities and pent-up demand,” said Vinod Nair, Head of Research at Geojit Financial services.
“With the upcoming Q4 GDP data, it is anticipated that India’s FY23 GDP will surpass the earlier projected 7% growth rate, thereby improving the overall outlook of the Indian economy,” Nair said.
“After consolidating for the last few days, Nifty has managed to surpass the resistance of 18450 zones. We expect this momentum to continue and Nifty to touch its previous lifetime high in the coming weeks. The index is now just 380 points or 2% away from its lifetime high. With the result season nearing its end, the focus will now shift to macro data, US debt negotiations and upcoming central bank policy meetings,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
With data inputs from Ritesh Presswala
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
