The NSE Nifty Future is trading at 10,681.00 up with +1.04% percent or +109.90 point. The Nikkei 225 Future is trading at 22,280.00 with a loss of -0.04% percent or -20.00 point . The Hang Seng Future is trading at 28,731.00 up with +1.66% percent or +468.00 point.
TODAY’S FACTORS AND EVENTS
Corporate governance issues, slower-than-expected earnings growth, valuation concerns and global as well as local macroeconomic headwinds have mainly dragged these second-rung stocks.
Some market veterans say most of the midcaps and smallcaps are still trading at a premium, while others are already advising investors to start bottom fishing in quality names.
Some popular names from these segments such as VakrangeeNSE 4.95 % and PC Jeweller are down 86 per cent and 71 per cent, respectively, for this calendar year. These stocks had rallied up to 96 per cent during the second half of the previous calendar.
Vakrangee has taken a beating after Price Waterhouse & Co resigned as its auditor on concerns about the company’s accounts, mainly related to its bullion and jewellery businesses.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 24,216.05 up with +0.41% percent or +98.46 point. The S&P 500 is trading at 2,716.31 up with +0.62% percent or +16.68 point. The Nasdaq Composite is trading at 7,503.68 up with +0.79% percent or +58.60 point.
In other parts of world, Japan’s Nikkei 225 is trading at 22,304.51 up with +0.15% percent or +34.12 point. Hong Kong’s Hang Seng is trading at 28,945.98 up with + 1.57% percent or +448.66 point. China’s Shanghai Composite is trading at 2,847.42 up with +2.17% percent or +60.52 point. India’s BSE Sensex is trading at 35,332.13 up with +0.84% percent or +294.49 point at 12:15 PM.