The Mid and the Small cap stocks continued their habit of outperforming the heavy weight stocks on the last trading day of the year on Monday with both the broader indices, the BSE Mid cap and the BSE Small cap index touching their all time highs. The BSE mid cap index touched an all time high of 9,817.28 points before settling at 9,789.49, a gain of 214.92 points or 2.24% from its previous close while the BSE Small cap index touched an all time high of 13,376.8 points, before closing the day at 13,348.37 points, a gain of 447.08 points or 3.47% from its previous close. The BSE Small cap ended the year with a gain of 9,456 points or 94% and the BSE Mid-cap index closed the year with a gain of 3,984 points or 69%.
The Mid cap space witnessed a volume of 19.53 crore shares on the last day of the year and recorded a turnover of Rs 2,552.92 crore while the Small cap space saw a volume of 17.93 crore shares, changing hands with a turnover of Rs1,838.46 crore on Monday, while only 1.03 crore shares or a value of only Rs 869.52 crore were traded in the Sensex stocks.
Amitabh Chakraborty, president, equity, Religare Securities Ltd said, ?The companies in the Mid and the Small cap spaces have shown some fantastic results in the last six to eight quarters and investors are anticipating the same in the next quarter also. This led to heavy buying in this space, especially in the capital goods, engineering and reality stocks?.
He also added that mutual funds managers took this opportunity to rotate their money from the frontline stocks to the Mid and the Small cap stocks.
The markets breadth in the mid cap space was positive with 407 companies advancing as against 74 companies that declined. On the Small cap space, 215 companies advanced as against 59 companies which declined and only one company remained unchanged.
As many as 121 stocks hit their upper circuit limit in the B1 group while in the B2 group as many as 362 companies hit their upper circuit limit.