Smart Finsec (BSE: SMARTFIN), a little-known microcap stock, staged a jaw-dropping rally over the past week, with the stock price skyrocketing nearly 60% in just 5 trading sessions. This has taken Smart Finsec to levels not seen in over 3 months.
Smart Finsec Touched Upper Circuits for 5 Straight Days
The stock hit upper circuit limit of 5% daily from December 19 to December 23. This resulted in the stock price surging from ₹10.99 on December 16 to ₹17.67 at Friday’s close, marking a blistering 60% gain in a span of just one week.
Prior to this epic run, Smart Finsec was trading lackadaisically in the ₹7 to ₹12 range for several months. But renewed investor interest has lit a fire under Smart Finsec shares.
140% Returns in 6 Months, 120% in 2022
With the latest spurt, Smart Finsec has racked up mammoth returns of 140% in the last 6 months. The stock has been an outperformer in 2022 as well, generating 120% returns year-to-date.
In the past one month alone, the stock has exploded 95% higher in a gravity-defying performance. Such massive returns in a small period indicates Smart Finsec shares are firmly in momentum grips.
Trading Volumes Surge, Show Heightened Investor Interest
The exponential rally and new 52-week high for Smart Finsec has been accompanied by a matching surge in trading volumes. The average daily volumes over the past week touched 5 lakh shares, a huge jump from just 8,000 shares traded daily in the preceding week.
Clearly, the stock has caught the fancy of investors and traders alike. The increased participation points to potential for the rally to sustain and gather steam.
Outlook Positive, Further Upside Likely
At current levels, Smart Finsec is trading near its highest point since October 2022. Technical indicators remain firmly bullish, with the stock in a strong uptrend trading well above all key moving averages.
Given the building momentum and positive sentiment, the microcap stock looks set to continue its gravity-defying run. Smart traders and investors would do well to have this potential multibagger stock on their radar.