Number of smallcap stocks offering double-digit returns falls even as bulls dominate the week
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Indian equity markets cheered the 50 bps rate cut by the US Fed as the indices scaled to record highs. The apprehension of a slowdown in growth was eased slightly after the lower-than-expected US jobless claims. Despite overall bullish sentiments, the rally failed to completely trickle down to the broader markets as the number of smallcap stocks offering double-digit returns saw a sharp drop. During the week, only 34 smallcaps gained in double digits, compared with 61 stocks in the preceding week. Neogen Chemicals was the top gainer from the smallcap pack with nearly 51% returns, followed by Reliance Infrastructure (49%), Ravindra Energy (28%), and Concord Biotech (25%). In the midcap segment, three stocks including Max Healthcare, Thermax and The Phoenix Mills have offered double-digit returns. While Max Healthcare has gained 17.6%, Thermax and The Phoenix Mills were up 13% and 11%, respectively. From the Sensex pack, Mahindra and Mahind...