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231 smallcaps suffer double-digit losses as investors sell in May . Will they come back in June? The stock market cliche of sell in May and go away proved true this year amid general election uncertainties. Concerns over BJP s election performance and significant volatility affected investor sentiments. Benchmark indices like Sensex and Nifty experienced slight declines.
Motilal Oswal Financial Services Chairman & Co-Founder Raamdeo Agrawal said that post-election will be a "very interesting time though things may have extended a little bit and it is quite possible that the next quarter or two could be slow.
Abhay Agarwal, Founder & Fund Manager at Piper Serica, discusses market focus on earnings, growth, and India s economic potential post-event. Grasim s expansion into the paint segment and Titan s nervousness are key points. Agarwal also says he expects the Birla Group will get re-rated because of various things they are doing like the Novelis IPO which was pending for a long time, which will unlock capital for Hindalco.
The stock clawed back losses of more than $30 billion that came after US-based Hindenburg Research alleged wide-ranging corporate malfeasance and share-price manipulation at the ports-to-power conglomerate in January 2023. The group has repeatedly denied those allegations.