Over 50 smallcap stocks rise 10 40% as Sensex hits lifetime high driven by IT shares; do you own?

As many as 50 smallcap stocks logged a double digit rise in their stock prices in the range of 10 40 per cent last week, as the 30 share Sensex hit its fresh all time high of 72,720.96 in the previous session and achieved weekly gain of 0.8 per cent, driven by a sharp rally of information technology (IT) stocks over robust quarterly results.

A strengthening rupee and hectic buying on tech, realty and oil counters amid a mixed trend in global markets further bolstered sentiment, according to traders. On the stock specific front, Wardwizard Innovations, Network18 Media, Suven Life Sciences, , DB Realty, MRPL, Trident, , Dish TV, , Thomas Cook India, Man Industries, , PNB Gilts, and others are among the smallcaps that logged a double digit rise in their share prices last week.

Markets' Weekly Print Indian markets ended a two week long consolidation phase and settled around the week’s high. Weak global cues triggered a subdued start however buying in the select heavyweights prompted some recovery in the middle. On a weekly basis, the BSE benchmark jumped 542.3 points or 0.75 per cent, and the Nifty 50 climbed 183.75 points or 0.84 per cent.

The IT index jumped 5.14 per cent, logging its best session since October 8, 2020, to hit a 21 month high. Market leaders Infosys and Tata Consultancy Services (TCS) emerged as the primary catalysts behind the surge in the Sensex index, concluding as the top contributors. A mixed trend continued on the sectoral front wherein IT, realty and energy were among the top performers while FMCG and banking ended lower.

The broader indices also edged higher wherein the smallcap index gained over half a per cent. MORE TO COME Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away!.