BSE Smallcap index bucked the trend to close in the green territory with gains of 0.09 per cent.

This multi-bagger textile stock has been hitting the upper circuit since June 1, 2022.

Responsive Industries Ltd, a small-cap company engaged in manufacturing PVC-based products, has hit the upper circuit of 20 per cent today from its previous close of Rs 117.35. While the benchmark index Sensex is trading down by about 0.5 per cent, this stock has gone ballistic.

The shares of Cosmo Films have outperformed the market in giving 7.57 per cent returns in H1CY22 compared to S&P BSE Small Cap Index which has lost 14.88 per cent while the benchmark index Sensex has also shed 8.26 per cent.  

The stock dipped after the government announced taxes on windfall gains made by crude oil producers. Due to this sharp fall, the stock tumbled below its 200-DMA.

Nifty closed on a high note as it made a fantastic recovery in the last half an hour. It closed marginally lower on a close-to-close basis but gained about 240 points from its day’s low.

Once a darling of investors but now an evil, it’s the saga of Nifty IT sector, which lost nearly 25 per cent in the last Q2 of the calendar year 2022. Moreover, on a YTD basis, it shed as much as 28 per cent.   

At noon on Friday, the headline equity indices, i.e. Sensex and Nifty 50 were trading lower as the global markets ended the second quarter of FY22.US stock futures fell on Friday morning after S&P 500 ended its worst first-half performance since 1970.   

The major equity indices experienced heavy losses in the opening trading. Nifty traded a tad below 15,600. All sectoral indices on NSE traded in the red with the exception of Nifty FMCG index. Reliance Industries, a company that dominates the index, pulled down the market by roughly 6 per cent after the government imposed Rs 6 per litre tax on the sale of gasoline and ATF along with a Rs 13 per litre tax on the export of diesel. 

As July started on a negative note, these stocks have jumped over 4 per cent.