Small and midcap stocks rally up to 44% in one week amid existing market weakness
Amid an overall weak market sentiment, individual small and midcap stocks enjoyed their northward rally with shares of WPIL Ltd surging by as high as 44.16% in just one week. Shares of Prudent Corporate Advisory Services rallied 40% to close the week at Rs 3,577.65 on the BSE. The stock had gained 14.75% in the…
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Smallcaps run risk of extended selloff as earnings slow
The tide is turning against Indiaβs smaller companies as weak earnings and a souring economic outlook spur a downturn in their shares. Key gauges of small- and mid-sized companies have tumbled since hitting September highs, putting them close to a so-called technical correction of a 10% peak-to-trough decline. The Nifty Midcap 100 Index is heading…
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Indian stocks head for most monthly foreign outflows in 4 years
Overseas investors sold Indian stocks every trading session this month, taking the net outflows to the highest since March 2020. Foreign funds withdrew more than $7 billion from Indian equities in the month through Oct. 14, according to data compiled by Bloomberg. If the trend continues, the month will see the biggest exit since a…
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Nvidia’s rally takes a break after forecasts fall short of investor expectations
Nvidia shares dropped more than 6% on Thursday after its forecast fell short of lofty expectations, though some believe the modest sell-off showed investors still remain confident in the generative AI boom that has powered the chip giant’s stock higher all year. The company on Wednesday forecast third-quarter gross margins that could miss market estimates…
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