Home / Financial News / BSE Mid-cap index hits new high

BSE Mid-cap index hits new high

Shares of mid-cap companies are in focus with the Bombay Stock Exchange (BSE) S&P BSE Mid-cap index hit a record high today.

At 1224 hours, S&P BSE Mid-cap index was up 0.43% at 10,883 points, compared to 0.25% rise in the benchmark S&P BSE Sensex. The mid-cap index touched a new high of 10,897 during intra-day today.

Meanwhile, the benchmark S&P BSE Sensex hit high of 29,362.96 in intra-day trade, is still 481.20 points away from its lifetime high of 29,844.16 touched on January 30, 2015.

3M India, Advanta, Cholamandalam Investment and Finance Company, Finolex Cables, Gillette India, Prism Cement and Schneider Electric Infrastructure have hit their respective all-time high values today.

Multi Commodity Exchange of India (MCX), Gillette India, Bombay Rayon Fashions, Sobha, Oberoi Realty, Fortis Healthcare, NIIT Technologies and National Buildings Construction Corporation (NBCC) from the BSE S&P Mid-cap index have rallied between 5-10%.

Most of the real estate sector stocks have outperformed the market after these companies reported good earnings for the quarter ended December 2014 and the Brihanmumbai Municipal Corporation (BMC)’s proposal to increase the floor space index (FSI).

Sobha (7% at Rs 473), Oberoi Realty (up 6% at Rs 300) and NBCC (5% at Rs 840) are from the mid-cap realty pack gained by over 5% each.

Among the other individual stocks, Bombay Rayon Fashions surged 10% to Rs 152 on BSE on back of heavy volumes.

Shares of the company engaged in textiles business hit a high of Rs 163 in early morning trade and has seen an over one million shares changed hands on the counter so far on BSE and NSE.

Multi Commodity Exchange of India (MCX) too rallied 7% to Rs 1,040 on back of heavy volumes. The stock opened at Rs 976 and touched a 52-week high of Rs 1,060 on BSE.

Analyst at HDFC Securities maintain ‘Buy’ rating with a target price of Rs 1,180 on the stock on account of significant business operating leverage, potential for non-linear growth driven by conducive policy framework. 


Check Also

Debate on Article 370 marked by posturing, says RSS

The Rashtriya Swayamsevak Sangh (RSS) is recalibrating its discourse on its demand ...

Street cautiously positive on JSPL post coal mine

Jindal Steel and Power (JSPL), which witnessed its lowest point in the ...