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Is the worst over for microcap, smallcap, midcap stocks? What analysts say

In March, most of the small and midcap had corrected as much as 30-50 per cent prompted by market regulator Sebi's warning of expensive valuations in the space

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Deepak KorgaonkarPuneet Wadhwa Mumbai / New Delhi

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Shares of smallcap companies continued their upward march from the March 2024 lows with the S&P BSE Smallcap index hitting a new high of 46,958.21 on Wednesday. It gained nearly 1 per cent, led by a strong rally in telecom, power, automobiles, infrastructure and capital goods stocks.

The smallcap index is trading higher for the third straight day and gained 3.3 per cent during the period. The index has surpassed its previous high of 46,821.39 touched on February 7.

The smallcap index has recovered 15.5 per cent from its low of 40,641.67 on March 13.

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First Published: Apr 24 2024 | 10:53 AM IST

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