Gallantt Ispat Ltd has challenged, before the Allahabad High Court (HC), the defiance by goods and services tax (GST) authorities to instructions issued by the central board of indirect taxes & customs (CBIC) on discipline to be maintained during search matters.
The BSE smallcap index rallied nearly 10%, while the midcap index jumped over 7%. Within the smallcap space, over 500 stocks have delivered double-digit returns with the highest gain (Puravankara) going as high as 86%.
Indian markets faced pressure from Middle East concerns, impacting smallcap stocks returns. Top gainers included Moschip Technologies, Solara Active Pharma, and Dhani Services.
Support for the Nifty is seen at 22,000 and 21,700-800 levels. On the higher side, the immediate resistance for the Nifty is at 22,150-175 levels, followed by 22,300-350. Overall, the coming week should set up the market for a large trending move.