The S&P BSE Smallcap index hit a record high 31,396.64, gaining nearly 1 per cent on the BSE in intra-day trade on June 7 after a strong rally in railway, auto and hospitals stocks.
In the process, the index surpassed its previous high of 31,304.44, touched on January 18, 2022.
In the past one month, the S&P BSE Smallcap index has outperformed the market surging by 6.6 per cent, as compared to 5.9 per cent rise in the S&P BSE Midcap index and 1.9 per cent gain in the S&P BSE Sensex.
70% of Nifty 500 stocks trading above 200 DMA financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
The sharp correction in the Indian markets from their peak levels has made valuations attractive, say analysts, who advise buying selectively, but only from a long-term perspective.
Fifty-six of the Nifty 100 stocks, according to Mahesh Nandurkar, managing director at Jefferies, now trade below the 10-year historical averages, including stocks in financial, select auto, and pharma sectors. Valuation (one-year forward consensus price-to-earnings, PE) has declined 25 per cent from October 2021 peak, almost matching the 33 per cent price-earnings contraction during the 2011 tightening cycle when repo rates went up by 375 basis points (bps) versus 250 bps this cycle.
By Puneet Wadhwa The sharp correction in the Indian markets from their peak levels has made valuations attractive, say analysts, who advise buying selectively, but only from a long-term perspective. Fifty-six of the Nifty 100 stocks, according to Mahesh Nandurkar, managing director at Jefferies, now trade below the 10-year historical averages, including stocks in
Indian stocks will be guided by economic indicators, including Q3 GDP growth figures and February PMI data.Nifty posted a weekly loss of 2.7% to 17,465.80, a four-month low amid selling by FPIs