Indian share markets continued to trade weak in the afternoon session and finished in red for third consecutive session. At the closing bell, the BSE Sensex closed lower by 318 points, while the NSE Nifty closed down by 91 points. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap closed down by 1% and 0.9% respectively. Losses were largely seen in auto stocks, FMCG stocks and consumer durable stocks.

BSE Small Cap Index 2007-17

The BSE Smallcap Index recently hit a 9 year high. One look at this data might lead one to believe that small caps are the area to look at while searching for multi baggers.

But when one takes a holistic view of the Smallcap index over a period of 10 years, the point to point returns have been negligible. To put it plainly, if someone had invested Rs. 100 in the small cap Index on Dec-07 and kept it till Mar 2017, he would have made absolutely no gain whatsoever.

This is in sharp contrast to the returns generated by the Hidden Treasure team which has beaten the Sensex and small cap returns handsomely over the same period.

Bharti Airtel share price was among the top losers on both the NSE and BSE indices, slipping 3.2%. It is reported that the company is planning to hike capex to Rs 300 billion in FY18 to take on the Idea-Vodafone merger.

Asian stock markets fell following overnight declines in U.S. financial markets as investors re-evaluated their “Trump trade” optimism. The Nikkei 225 is down 2.13% while Hong Kong’s Hang Seng is off 1.11% and China’s Shanghai Composite is lower by 0.50%. European markets too are lower today with shares in France off the most. The CAC 40 is down 0.88% while London’s FTSE 100 is off 0.85% and Germany’s DAX is lower by 0.68%.

The rupee was trading at Rs 65.45 against the US$ in the afternoon session. Oil prices were trading at US$ 47.50 at the time of writing.

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