Birlasoft: Antique said the deal pipeline remains strong but future signings are uncertain due to the timing of client decisions. The IT firm is looking to execute and maximise signings in the upcoming quarter, it said.
The monster rally in SMID indices has led to their outperformance in relation to the most watched benchmark indices - the Nifty and the BSE Sensex. The consequences are manifest in valuations that are considered stretched, if one is charitable, and downright unrealistic, if one is even remotely practical.
Overall, analysts maintain a positive yet cautious stance as Nifty 50 is set to retest its record high level, but there could be bouts of intra-day volatility. A possible breakout attempt for Nifty 50 above 22,150 could lead to an uptrend to inch towards 22,500+.
The number of smallcap stocks that rose in double digits came down for the second consecutive week. Fifty of them saw double-digit rallies, compared with 52 a week earlier and 60-plus in the preceding week.