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Smallcap Stock Index Outperformed Market for 2nd Consecutive Day, 24 Stocks Hit 52-Week High

Picture Source: Internet

Shares of smallcap companies continued to rise for a second straight session, with the S&P BSE Smallcap Index outperforming the S&P BSE Sensex on Wednesday.

At 3:10 pm, the S&P BSE Small Cap index was up 1.01%, while the S&P BSE Sensex was up 0.97%, the biggest gainer among the broader indexes. Over the past four sessions, the BSE Small Cap index has gained 5.3%, compared with a 3.6% gain for the benchmark index.

A total of 24 stocks on the BSE Smallcap index hit new 52-week highs, while 23 stocks were locked in the upper reaches of the BSE. The list includes Atul Auto, KEI Industries, Apar Industries, AIA Engineering, Pricol, Neuland Laboratories, SML Isuzu, Vardhman Special Steels and Universal Cables.

Shares of SML Isuzu and Atul Auto have risen 30% in the past two sessions. After reporting healthy March auto sales data, the stocks hit new 52-week highs in intraday trading on Wednesday.

On Wednesday, SML Isuzu surged 8% to 954.95 rupees on the BSE in intraday trade, gaining 30% in the past two sessions. Shares of the commercial vehicle company surpassed the previous high of Rs 887.80 on October 7, 2022. The S&P BSE Sensex gained 1% over the same period.

The company reported a 59% year-over-year increase in total sales in March 2023 to 2,169 vehicles. Total sales in March 2022 are 1,363 units.

Shares of Atul Auto surged 8.4% to Rs 401 today, surpassing the previous high of Rs 397.70 hit on February 17, 2023. Over the past two sessions, the three-wheeler maker has reported a sharp rise in total monthly sales.

Pricol shares rose 5% in intraday trade today to hit an all-time high of Rs 228.60 on heavy trading volume. Shares of the auto parts and equipment company have risen 30% over the past 10 sessions. Today, it surpassed the previous high of Rs 219 on February 17, 2023.

The average transaction volume over the counter has tripled. A total of 2.7 million shares changed hands on the NSE and BSE, representing 2% of Pricol’s total share capital.

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