Now is the time to pick cheap mid-cap stocks (1) February 11, 2009
Posted by dhirendra08 in Bear Camp, Mid-cap Stocks, Small-cap Stocks, Stiff Resistance, Volatile Market.Tags: Fundamentals, Investors, Market, Market Cap, Stocks
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Good morning friends. The market is moving strong, this indicates the fact that there is no selling at lower level. Many investors were buying mid-cap stocks.
Irrespective of market cap and fundamentals, almost every stock listed on the bourses have seen stiff resistance from the bear camp. In such a massively volatile market–over the past one year–when the BSE Sensex and CNX Nifty lost over 50%, several mid-cap and small-cap stocks lost two-thirds of their value. The BSE Midcap Index is down over 60% from exactly a year ago.
Over the past one week, the midcap segment has been witnessing some buying with the broader midcap index gaining by over 4%. Index frontliners like Aban Offshore (up 2.3% at Rs 445.75), Akruti City (up 4.7% at Rs 967.30), Amtek Auto (up 0.1% at Rs 58.05), BEML (up 6.17% at Rs 394), Blue Dart (up 1.4% at Rs 451.25), Gitanjali Gems (up 0.7% at Rs 51.50, Monsanto (up 0.8% at Rs 1269), Colgate Palmolive (up 0.06% at Rs 418.15), Tata Chemicals (up 1.08% at Rs 150.25), Lupin (up 2.4% at Rs 624.90) and Torrent Power (up 2.08% at Rs 73.60) are being lapped by investors in good numbers.
“The market is moving strong on minor buying by investors; this trend signifies the fact that there is no selling at lower levels.”
Reference: economictimes
