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Small & Midcaps Underperform: 21 Stocks In BSE500 Buck The Trend, Up 10-50% moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
The Sensex on Thursday scaled the 50000-level for the first time on hopes of an economic recovery and positive global cues but fell victim to profit booking to finish below the milestone.
However, the mood was one of caution as stretched valuations in some stocks raised the bar for corporate earnings which could turn out to be a double-edged sword.
Equity investors have benefited from strong inflows from foreign portfolio investors (FPIs) as central banks globally inject huge liquidity to kickstart their economy. So far in January, they have made investments worth Rs 22,730 crore in domestic equities. Their enthusiasm is expected to continue on optimism of fresh stimulus by the new Biden administration.
The Sensex has almost doubled from the lows of 25,638 in March 2020. The average market capitalisation of BSE-listed companies has now swollen to Rs 198 lakh crore.