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    Mapping the market: Smallcaps outperform Sensex, Nifty Bank plunges

    Synopsis

    The frontline stocks may have fallen flat even after showing promise, but second-rung stocks held fort and delivered handsome returns on Wednesday.

    Shares of frontline stocks plunged after a 200-point rally in Sensex, but smallcap and midcap stocks remained fairly buoyant through the day.

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    NEW DELHI: On Wednesday morning Dalal Street investors began where they had left on Tuesday, but by the end of the session, they were beating retreat. Despite a 200-point rally on the Sensex, investors were left licking their wounds when the market closed.

    The frontline stocks may have fallen flat even after showing promise, but second-rung stocks held fort and delivered handsome returns.

    We have captured all the headline trends and stock-specific action from the session.

    Nifty Bank's topsy-turvy ride: Banking shares saw mixed fortunes on Wednesday, forcing the Nifty Bank index to slip after topping the 18,000 level. The index slipped 0.02 per cent to 17,876. From the index, PNB plunged 1.94 per cent to Rs 113.75, Canara Bank slipped 1.61 per cent to Rs 263.25 and Yes Bank dropped 1.42 per cent to Rs 1,112.



    Bharti Infratel perked up: Shares of Bharti Infratel rose 2.43 per cent to Rs 339 in an otherwise choppy market after Goldman Sachs upgraded the stock to 'neutral' from 'underperform' with a target price of Rs 326.



    Second-rung stocks survive sell-off: Shares of frontline stocks plunged after a 200-point rally in Sensex, but smallcap and midcap stocks remained fairly buoyant through the day. The BSE Smallcap rose 0.87 per cent against a 0.01 per cent dip in benchmark Sensex. From the pack, RPP Infraprojects zoomed 19.98 per cent to Rs 236, Ratnamani Metals & Tubes surged 19.30 per cent to Rs 722.25 and Fedders Lloyd Corp gained 18.09 per cent to Rs 67.90.



    Healthcare stocks gained: Shares of pharma companies rose for the second straight day on Wednesday and finished as the best sectoral performer with a gain of 0.82 per cent. From the pack, Syngene gained 7.01 per cent to Rs 572, Jubilant rose 5.18 per cent to Rs 611 and Indoco Pharma gained 4.64 per cent to Rs 263.



    Spurt in OI: Futures of Mahindra & Mahindra Financial Services saw the biggest spike in its open interest at 20.28 per cent. It was followed by Bajaj Finance at 14.48 per cent and Engineers India 13.02 per cent. Shares of Mahindra & Mahindra Financial Services perked up 3.50 per cent to Rs 264.40, Bajaj Finance gained 1.31 per cent to Rs 820.35 and EIL rose 3.43 per cent to Rs 329.80.



    Most active stocks: Most active stocks: Shares of Bharat Financial Inclusion were the most active in terms of value on NSE on Wednesday. It was followed by Divi's Laboratories and ITC. Shares of Bharat Financial Inclusion surged 11.59 per cent to Rs 579.60, Divi's Labs perked up 4.13 per cent to Rs 821 and ITC inched up 0.83 per cent to Rs 236.

    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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