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Of Crash in Bitcoin, Correction in MidCap and SmallCap Indices and Top Stocks in Action Today
Wed, 17 Jan Pre-Open | Karan Janani, TM Team

Correction in the BSE MidCap and SmallCap Indices

The past year has seen the BSE MidCap and BSE SmallCap indices surging by 43.1% and 57.1% respectively. Taking a two year view these indices have produced mind-boggling return of 75.3% and 85.9% respectively.

This sharp run-up saw a decent correction yesterday as the MidCap and SmallCap index corrected by 1.7% and 2.2% respectively. Stocks such as National Aluminum Co, Federal Bank, IDFC Bank corrected by 7.9%, 7.5% and 6.4% respectively.

So, is the party in these indices nearing its end? The answer to this is not that simple. These indices have surged largely on the back of a hope rally. A strong recovery in the earnings would help sustain the expensive valuations at which these indices are trading currently. Provided the earnings do not recover, a crash like the one which we saw yesterday cannot be ruled out.

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Bitcoin Crashes to Level Below US$ 12,000

Bitcoin is crashing and it has fallen to levels below US$ 12,000. The cryptocurrency has lost almost 40% of its value since Mid-December when it was trading at US$ 20,000.

The crash was mainly on the back of a news that South Korea is considering banning the trading of cryptocurrencies.

Over the last three weeks we've introduced you to Tama-Richard Churchouse. He's one of the world's leading experts on crypto currencies. And his man in India... The Cryptowallah, Prasheel Vartak.

In case you missed it, here's a cryptocurrency Q&A with Tama in The 5 Minute WrapUp. And cryptos in the Indian context by Prasheel.

According to Tama, depending on how things pan out over the next few years, massive gains could potentially be yours for the taking. These gains could come from cryptocurrencies or from the blockchain technology. Join us here to unlock the best ideas and insights about the enigmatic world of cryptos.

Top Stocks in Action Today

The stocks of Den Networks, ICICI Lombard General Insurance Company, Multi Commodity Exchange of India (MCX), Hatsun Agro Product are expected to be in the news today as these companies declare their results for the quarter ending December 2017.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

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Stock Market Updates

SITI NETWORKS LTD Plunges by 5%; BSE 500 Index Up 0.1% (Today's Market)

Nov 13, 2018 09:49 AM

SITI NETWORKS LTD share price has plunged by 5% and its current market price is Rs 10. The BSE 500 is up by 0.1%. The top gainers in the BSE 500 Index are MMTC LTD (up 6.6%) and PRAJ IND.LTD (up 4.2%). The top losers are SITI NETWORKS LTD (down 5.0%) and TECHNO ELECTRIC (down 5.2%).

PRAJ IND.LTD Surges by 5%; BSE CAPITAL GOODS Index Up 0.0% (Today's Market)

Nov 13, 2018 09:35 AM

PRAJ IND.LTD share price has surged by 5% and its current market price is Rs 120. The BSE CAPITAL GOODS is up by 0.0%. The top gainers in the BSE CAPITAL GOODS Index is PRAJ IND.LTD (up 5.1%). The top losers are BHEL (down 0.2%) and L&T (down 0.2%).

BANK OF INDIA Plunges by 6%; BSE BANKEX Index Down 0.4% (Today's Market)

Nov 13, 2018 09:33 AM

BANK OF INDIA share price has plunged by 6% and its current market price is Rs 85. The BSE BANKEX is down by 0.4%. The top gainers in the BSE BANKEX Index is KOTAK MAH. BANK . The top losers is BANK OF INDIA (down 6.0%)..

Sensex Ends Day in Red, Global Markets Cautious, and Top Stocks in Action (Today's Market)

Nov 13, 2018 Pre-Open

On Monday, share markets in India opened on a positive note and ended the day in red after a volatile day of trading.

View More Indian Share Market News

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Nov 13, 2018 10:05 AM