Smallcap Indices News Today

Vishal Malkan recommends Canara Bank and Cummins India in the banking sector. In the metals sector, Jindal Steel and Nalco are favored picks. For potential gains, within the telecom sector, he will prefer Indus Tower to Bharti Airtel, Voda Idea or Jio. He is also advising a cautious approach to small and midcap indices.

In terms of sectors, the auto, bank, capital goods, power, realty, and telecom sectors observed gains ranging from 0.5 to 1%. However, the metal, IT, and media sectors experienced marginal declines ranging from 0.3 to 0.5%.

Amit Khurana discusses market correction trends, preference for bottom-up portfolio allocation, identifying opportunities in small and midcap stocks, backing real estate, alcobev, mid-sized banks, affordable housing, and midcap cement amid corrections. Khurana says: "This market is moving into a zone which is showing signs of correction. Some have played out and some are yet to play out."

Immediate supports for the Nifty are seen at 21,448 and 21,137, derived from the previous swing lows.

While midcap and smallcap indices rebounded by more than 45% from their lows, the real show stunner has been SME IPO delivering 113% growth over the past year.

To some investors, small and microcap shares seem overvalued, compared to their growth potential.

Indian equity markets are on a roll as Nifty has crossed the psychological mark of 20,000. Watch this Visual Story to know whether the rally will continue and should you place your bets on large-cap stocks or mid-cap and small-cap shares.

Indian benchmark indices Nifty50, Sensex have jumped nearly 10% so far this year. While the rally is decent, midcap and small indices have outperformed the benchmark by some margin. Nifty midcap index has zoomed around 32% so YTD, and Nifty Smallcap index has rallied 33%. Will the rally in midcap, smallcap stocks to continue in despite high valuations? See what analysts say. Check top stocks ideas.

About 31 lakh new demat accounts were opened last month compared to 29.7 lakh additions a month ago and 21 lakh a year ago.

The Cup and Handle Pattern breakout is observed on the daily chart of Indian Railway Catering & Tourism Corporation. Price breakout is accompanied with rising volumes.