81 smallcaps fall in double-digits as markets follow sell-on-news trend. Is there reprieve in Budget week?
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Domestic markets concluded the week on a sombre note, with a sell-on-rally sentiment prevailing. Analysts say the market is following a sell-on-news trend even though third quarter results are broadly in-line with the expectations. The current correction is driven by a combination of factors, including tapering, an earnings slowdown, elevated valuations, and trade uncertainties. During the week, only 4 smallcap stocks delivered double digit weekly returns. MPS was the top gainer in the smallcap pack with 24% return, followed by Fairchem Organics (17%), Capri Global (12%), and Zensar Technologies (10.7%). On the contrary, 81 smallcaps fell in double-digits. Newgen Software, Cyient, The India Cements, Pearl Global Industries, Netweb Technologies, Sundaram Clayton, Sterling Wilson and a few others were the top losers. In the midcap segment, none of the stocks saw double-digit rise. However, Go Digit, Coforge, Mphasis, Persistent Systems, Lau...