Small and mid-cap stocks rise up to 44% in one week amid existing market weakness

While overall market sentiment was weak, individual small and mid-cap stocks enjoyed an upward trend, with the stock price of WPIL Ltd soaring 44.16% in one week.

Shares of Prudent Corporate Advisory Services rose 40 per cent to end the week at Rs 3,577.65 on the BSE. The stock rose 14.75% in the last trading session alone.

Meanwhile, shares of other small caps like AMI Organics, Syrma SGS Technology, 63 Moons Technologies and The Anup Engineering have risen 30-40 per cent on a weekly basis.

Coffee Day Enterprises, Force Motors, Poonawalla Fincorp, Mercury Ev-Tech and Poly Medicure were among the companies whose share prices rose by 25-30 per cent.

BSE small cap index also rose 6.3% week-on-week (WoW).

In addition, among mid-cap stocks, Gillette India’s stock price surged 21.34%, showing the highest increase, followed by Bank of India’s stock price, which rose 17.2% during the same period. Reserve Bank of India, Bank of India, JSW Stock Price Infrastructure, Bank of Maharashtra, Bank of Punjab & Sindh, Rail Vikas Nigam (RVNL), Bharat Heavy Electricals (BHEL), Emami, Indian Renewable Energy Development Agency (IREDA), etc. in the mid-cap segment. rose and recorded its largest weekly increase. 16%. Indian stock markets are currently under pressure with the Nifty50 correcting 8% from its September high.

October also saw selling by foreign portfolio investors (FPIs), who sold stakes worth Rs 1,13,858 crore, the highest ever.

On the global front, markets will now also react to the US presidential election, after which fundamentals such as US GDP growth, inflation and interest rate cuts by the Federal Reserve will influence market movements.

(disclaimer: Recommendations, suggestions, views and opinions provided by experts are their own. It does not represent the views of The Economic Times.)