The BSE Smallcap index hit its fresh 52-fresh high of 12,948.98 on Thursday taking cues from global markets after the US Federal Reserve decided to keep interest rates unchanged. The index is around 1,200 points away from its all-time high of 14,239.24 which it touched on January 8, 2008. In the past one year, the BSE Smallcap index has risen nearly 20 per cent, whereas benchmark BSE Sensex advanced 12.17 per cent during the same period.
Despite the rally in the smallcap space, there are over 150 stocks which gave negative return to investors in the past one year. The list includes stocks such as Sunrise Asian which dipped 96.17 per cent to Rs 3.97 on September 22 from Rs 103.60 on the same day last year. Other smallcap companies such as Visagar Polytex, Shrenuj & Company, Rainbow Papers, JRI Industries and Trinity Tradelink plunged by 95.62 per cent, 95.35 per cent, 94.09 per cent, 93.95 per cent and 91.43 per cent, respectively, in the past one year. Ojas Asset Reconstruction company dipped by 82.45 per cent to Rs 7.75 from Rs 44.15 during the period.
There are 10 stocks in the BSE Smallcap index which retreated between 50 per cent and 80 per cent during Sept 22, 2015 and Sept 22, 2016. Castex Technologies, Lycos Internet and MBL Infrastructure declined by 63.77 per cent, 62.10 per cent and 55.46 per cent during the period.
On the other hand, stocks such as Bodal Chemicals, Sudarshan Chemical, Pricol, Shilpi Cable Technologies and Gujarat Narmada soared by 368.35 per cent, 277.23 per cent, 275.24 per cent, 222.76 per cent and 209.96 per cent, respectively.