Stock market update: Smallcaps outperform Sensex; Binani Industries among top gainers in the pack

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NEW DELHI: The BSE Smallcap index was outperforming benchmark Sensex during Thursday’s trade.

Around 11:55 am, the smallcap index was 0.19 per cent down at 16,997, while the Sensex was 0.59 per cent down at 35,530. The Nifty50 index was 0.66 per cent down at 10,785.

Shares of Trigyn Technologies (up 11.17 per cent), Jubilant Industries (up 11.08 per cent) and Binani Industries (up 10.08 per cent) were leading among smallcap gainers.

On the contrary, Nila Infrastructures (down 12.43 per cent), Punj Lloyd (down 7.49 per cent), Jagran Prakashan (down 6.15 per cent), Future Supply Chain Solutions (down 5.10 per cent) and Nectar Lifesciences (down 5.01 per cent) were among the top losers in the index around the same time.

Domestic equity markets were under pressure as investors’ risk appetite got a hit after the US Federal Reserve hiked interest rates for the second time this year and hinted at two more such hikes in the remainder of 2018.

Moreover, concerns over widening current account deficit (CAD) at home and data showing lower-than-expected Chinese factory output growth too weighed on the sentiment.

Market participants were eyeing May wholesale price inflation data, to be released later today, for fresh cues.

In the Sensex index, 7 stocks were up, while 24 were down.

State Bank of India, ICICI Bank and Adani Ports were among the top losers in the Sensex index.

Source: Economic Times