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Our Bureau

Kolkata, March 14 Mid- and small-cap stocks followed the recovery trail of the market, but it was weak in relation to the benchmark indices.

The BSE Midcap Index recovered 0.85 per cent and the BSE Small Cap Index finished barely up 0.05 per cent on Friday.

The two indices had declined by 5.53 per cent and 5.35 per cent respectively on Thursday, much steeper than the benchmarks.

According to analysts, the participation in mid- and small-cap stocks generally rise and fall with extreme fluctuations in sentiment.

Of the 271 components in the mid-cap index, 163 advanced and 103 declined on Friday. In the 479-stock BSE small-cap basket, 219 moved up and 258 moved down. In the small cap segment, 10 stocks including English Indian Clays (20 per cent), gained over 8 per cent.

Among the BSE Midcap Index stocks, Dalamia cement gained 17 per cent, Educomp Solution recovered by 12.05 per cent.

While Titan Industries moved up over 9 per cent, Renuka Sugar gained 7 per cent.

Among the notable gainers and losers in these packs were: Tata Sponge Iron, up over 16 per cent and Simplex, down 10.54 per cent.

“There is hardly any noticeable pattern in the large number of mid- and-small-cap space stocks. Fundamentally strong stocks fared better than the rest, while weaker stocks with negative developments fell further,” said Mr Ajai Jaiswal of Angel Broking.

According to Mr V.K. Sharma, Director and Head of Research of Anagram Stock broking, the momentum players and traders are not looking in the mid- and small-cap space in this volatile market. “In this situation, these stocks are unlikely to shadow the bluechips," he added.

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