Over 60 smallcaps gain up to 41% in market's record sprint.

Rajesh
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The Indian market witnessed yet another exceptional week, breaking multiple records fueled by positive factors such as sustained foreign institutional investors' (FIIs) buying, progress in the monsoon season, and optimistic expectations for healthy Q1 earnings. Notably, small-cap stocks stood out and showcased remarkable performance, contributing to the market's overall success.

Nifty

Record-Breaking Milestones:

Closing the week on July 7, the 30-stock Sensex index surged by 0.86 percent, equivalent to a substantial 561.89 points, reaching an unprecedented level of 65,280.45. Simultaneously, the broad-based Nifty index climbed by 0.74 percent, a gain of 142.75 points, concluding the week at an all-time high of 19,331.80. The market witnessed the Sensex surpassing the 65,000 mark for the first time, while the Nifty crossed the milestone of 19,500.

Buoyant Small-Cap Stocks:

Amidst the market's record-setting performance, small-cap stocks emerged as the stars of the show. These companies displayed remarkable growth and contributed significantly to the overall market surge. Several smallcaps experienced notable gains, with some even soaring as high as 41 percent during the week.

Positive Economic Indicators:

Vinod Nair, the Head of Research at Geojit Financial Services, highlighted the signs of strength exhibited by economic activities. The manufacturing Purchasing Managers' Index (PMI) expanded to 57.8, indicating sustained demand and instilling confidence in the manufacturing sector's future prospects. This positive sentiment further bolstered investor confidence in the market.


Supportive Factors:

The provisional business numbers released by banks, automakers, and real estate companies served as a catalyst for investor confidence. These encouraging figures, coupled with the sustained buying by foreign institutional investors (FIIs), provided additional support to the domestic market. The influx of foreign investments played a crucial role in the market's upward trajectory.

Conclusion:

The Indian market experienced an exceptional week, breaking multiple records as various factors converged to fuel its ascent. With foreign institutional investors showing continued interest, the progress in the monsoon season, and optimistic Q1 expectations, the market demonstrated robust growth. Notably, small-cap stocks outperformed, showcasing remarkable gains and contributing significantly to the market's overall success. As the market continues to evolve, investors and analysts eagerly anticipate future developments and opportunities.

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