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The gap between the performance of leading indices and the broader market continued to widen. Global markets experienced divergence throughout the week, with European markets showing strength while the US market closed lower
India Inc's December quarter earnings showed weakening profit momentum at an overall level but we filtered out a list of 16 smallcap companies which reported over 100% growth in sales and profit on a YoY basis. Waaree Renewable Technologies, Advait Infratech, Cressanda Railway Solutions, and Swelect Energy Systems were among the top performers. 14 out of 16 of these stocks have already given multibagger returns in last one year.
On BSE, JK Tyre, SPARC, Arvind, Cressanda Solutions and REC surged up to 11.70 per cent. On the flipside, Gujarat Mineral, HIL, Greenpanel Industries, Syrma SGS Technology and RattanIndia Power slipped up to 9.56 per cent.
BSE Sensex dropped 283.60 points, or 0.44 per cent, to end at 63,591.33. NSE's Nifty tumbled 90.45 points, or 0.47 per cent to end the session at 18,989.15 for the day
The 30-share BSE Sensex pack rose 351 points or 0.55 per cent to trade at 63,499, while the NSE Nifty moved 97 or 0.51 per cent up to trade at 18,954.