BackBSE mid-cap, small-cap indices scale record highs
Stock market indices representing small and mid-cap companies hit record highs on the back of good earnings recorded by some of these companies
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Mumbai: Stock market indices representing small and mid-cap companies hit record highs on Monday on the back of good earnings recorded by some of these companies.
Earlier in the day, BSE mid-cap index rose as much as 1.1% to 11,392.69 points, its highest ever, while the BSE small-cap index climbed as much as 1.22% to a record 11,974.88 points.
BSE Mid-cap index rose 0.51% to 11,330.91 points, while BSE Small-cap index advanced 0.93% to 11,941.20 points. BSE’s 30-share benchmark Sensex gained 0.26% to 28,187.06 points.
“At least for quality mid-caps, earnings growth is resuming. People have been liking quality mid-caps companies, and have increased their holdings, to give outperformance in their portfolios," said Deven Choksey, managing director and CEO of K.R. Choksey Shares and Securities Pvt. Ltd.
Intra-day, of the 77 mid-cap stocks in the mid-cap index, 48 rose, while 348 of 582 stocks in the small-cap index advanced.
Top gainer among mid-cap stocks was Jaiprakash Associates Ltd, which was up 18.36%, followed by Sun TV Network Ltd. and Indian Bank Ltd with 11.22% and 9.37%, respectively.
Among small-cap stocks, Lifeline Drugs and Pharma Ltd and Uflex Ltd advanced 10.55% and 16.69%, respectively.
Both indices rose for the fourth consecutive session. Since 28 July, BSE mid-cap and small-cap indices have gained 3.3% and 3.7%, respectively.
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