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Broader indices outperformance continues; 56 smallcaps rise between 10-32%

Money Control · 3m

During the past week, the Indian stock market witnessed a mixed performance. While the main indices, BSE Sensex and Nifty50, fell slightly, the broader indices, such as BSE Smallcap and BSE Midcap, outperformed. The market reached record highs earlier in the week, driven by positive factors like quarterly earnings, progressing monsoon, and supportive global data. However, concerns over a possible recession and geopolitical tensions caused some pullback. Sectors like IT, Realty, and Auto saw declines, while Energy, Pharma, and Media showed gains. FIIs continued to sell, while DIIs bought equities. The direction of the market in the coming weeks will be influenced by earnings season and global economic updates. Technical analysts suggest that the Nifty50 may experience a range-bound movement with support levels between 24,600 and 24,500.