These 28 smallcaps rally 10-39% even as inflation worries, global cues sink market during the week

In the week ended June 10, the equity benchmarks ended more than 2 percent lower after the Reserve Bank of India raised the FY23 inflation forecast.

During the week, the Nifty fell 382.50 points, or 2.3 percent, to 16,200.

The central bank's moves, which included withdrawal of the so-called accommodative stance to strengthen the fight against inflation, high oil prices, relentless selling by foreign institutional investors, and the European Central Bank's intention to hike interest rates in July weighed on.

The focus of the domestic market shifted to the global market, which is expecting a Fed policy next week. The European Central Bank in its policy meeting indicated to start rate hike, according to a research report.

The BSE bank, capital goods, consumer durables, FMCG, finance, IT and metal were the top loser's.

The space wasn't as under pressure as the frontliners were. The BSE midcap and smallcap index fell.

Mangalore Refinery and Petrochemicals, Future Lifestyle Fashions, Future Supply Chain Solutions, and Future Enterprises all recorded double-digit gains.

Some of the stocks that gained between 10 percent and 19 percent were Chennai Petroleum Corporation, Navkhar Corporation, Mangalore Chemicals and Fertilisers, Titagarh Wagons, Thyrocare Technologies, PNB Housing Finance, TV18 Broadcast and Kamdhenu.

There were outperfomers in the mid caps. Oil India surged 20 percent, followed by RBL Bank, Biocon, TVS Motor Company, and others that gained 2 to 7 percent.

The country's largest car maker, Maruti Suzuki, was the top gainer in the BSE pack, rising 3 percent.

For the eighth month in a row, foreign institutional investors have sold shares. The outflow was offset by net buying of shares by domestic investors.

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