Last week, 16 BSE small-cap stocks increased by 15 to 29%; Nucleus Software Exports had the most increase

 Last week, 16 BSE small-cap stocks increased by 15 to 29%; Nucleus Software Exports had the most increase

The main Indian stock indexes ended Friday's trading down, with the S&P BSE Sensex ending at 65,397 and the Nifty 50 falling by 0.42% and 0.35%, respectively. Concerns about possible interest rate increases by the US Federal Reserve, the spike in bond rates, and the continuing conflict between Israel and Palestine all put pressure on the equities throughout the trading.

According to recent media sources, the 10-year Treasury note for the US temporarily above 5% on Thursday for the first time since 2007, while Brent Crude futures surged beyond $93 per barrel on Friday, hitting a level not seen since October 3. In light of these events, the Nifty 50 and S&P BSE Sensex ended the week with losses of 1.06% and 1.34%, respectively.

The recent winning run for small-cap stocks has persisted despite the current uncertainty. 16 equities in the BSE small-cap index had weekly gains ranging from 15% to 29%.

With a gain of more than 29%, Nucleus Software Exports was the highest gainer for the week. After the firm announced that Mahindra Rural Housing Finance, a division of Mahindra & Mahindra Financial Services Limited, had adopted its software FinnOne Neo for their retail and mortgage lending operation, the stock started to soar on October 5. 

Following this disclosure, the stock underwent a one-way run, reaching a new all-time high of $1,521 per share on Friday and increasing by 50% year to date.

Shares of Shakti Pumps (India) had a significant surge as well, with gains of around 24.3%. The shares increased by another 10.32% during Friday's trading day to reach a new all-time high of $1,224.65.

The company reported receiving a Letter of Empanelment compared to Maharashtra State Electricity Distribution Corporation Limited (MSEDCL) for 50,000 Off-Grid solar photovoltaic water distribution mechanisms (SPWPS) pumps to earn the entire state of Maharashtra under Component B of the PM-KUSUM scheme (Phase III). The stock was then locked in a 20% upper circuit limit. According to the company's website, the 50,000 pumps would cost around 1,603 crore in total and be installed over the course of 24 months. 

The company's shares have more than quadrupled investor wealth in only the previous six months, providing a return of 161.50%, and they have surged by 339% during the last three years.

Ion Exchange (India) shares rose by 13.17% to a new high of 687 rupees a share on Friday. The stock gained 24% for the week as a result of this rise. Notably, the company has seen an excellent bullish trend this year and has so far produced an astounding return of 137%.

The next small-cap stock to gain market traction was Newgen Software Technologies. The company released strong Q2 FY24 results on Tuesday, October 17. Net profit increased 59% to 48 crore from 30 crore in the corresponding quarter of the previous fiscal, while consolidated revenue from operations increased 30% year over year to 293 crore, driven by strong growth in banking and financial services globally.

Investors responded favorably to the company's success, as on October 17, the stock broke the 1,000 mark for the first time. In the two sessions that followed, the stock extended its bull run and hit a new all-time high of 1,185 per share. The stock increased 23.8% last week as a whole.

Shares of Suzlon Energy reached a 9-year high of $33.2 per share on Friday, continuing their bull run. The stock soared 21.3% last week. The stock started its one-way climb in April and closed every month after that with gains until September.

May stood out among these months with a stunning gain of 41.6%, closely followed by June with a return of 30%.

Similar to this, shares of Authum Investment & Infrastructure soared 21% last week, increasing from 660 to 797, and during Friday's session, the shares hit a new record high of $842 per.

Bombay Burmah Trading Corporation likewise had tremendous share price growth on Friday, closing at a 20% higher circuit of $1,420 per share. Thanks to this surge, the stock achieved a gain of 19.7% for the week.

The shares of Pearl Global Industries, a firm that manufactures clothing, also performed strongly on markets last week, rising from 1,205 to 1,404 and yielding a return of 16.5%. The stock started moving up in February of this year, finishing every month in the green, with this month's performance (October) being the best thus yet with a gain of 40%.

KIOCL, Rushil Decor, Dhunseri Ventures, SEPC, TruCap Finance, Apollo Micro Systems, Seamec, as well as Renaissance Global were all prominent performers last week, with positive returns ranging from 15% to 23%.