No stopping mid, smallcap bulls
Business Standard|July 31, 2024
The Budget's proposals for higher rates on long-term I and short-term capital gains tax (LTCG, STCG) and valuation concerns about mid and smallcap stocks have not deterred bulls in the two segments.
PUNEET WADHWA
No stopping mid, smallcap bulls

From the low of July 23 when the Budget was presented, mid and smallcap indices on the BSE have surged more than 6 per cent and 7 per cent respectively, according to data from ACE Equit. The S&P BSE Sensex rose 2.5 per cent in this period.

The Budget hiked LTCG and STCG taxes on the sale of shares from 10 per cent to 12.5 per cent and from 15 per cent to 20 per cent, respectively.

Analysts are cautious about — these two segments a favourite of retail investors due to valuation concerns. Investors, it seems, have not heeded their word of caution yet.

Mid, smallcap rally

The disconnect between earnings and market prices in the broader market is driven by the sustained fund flows into these segments and buying, according to V K Vijayakumar, chief investment enthusiastic retail strategist at Geojit Financial Services.

هذه القصة مأخوذة من طبعة July 31, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة July 31, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BUSINESS STANDARD مشاهدة الكل
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