BSE Midcap index outperforms; MRF, Emami gain

The S&P BSE Midcap index hit a 52-week high of 15,677 points, surpassing its previous high of 15,662 hit on April 3 2019.

Jan 17, 2020 08:01 IST India Infoline News Service

Equity benchmark indices were trading flat in the afternoon session. The Sensex was up 52 points or 0.12% at 41,984 and Nifty was up marginally by 0.02%.

The S&P BSE Midcap index hit a 52-week high of 15,677 points, surpassing its previous high of 15,662 hit on April 3, 2019, on the back of a strong rally in Adani and Tata Group stocks. Financials, pharmaceuticals, and consumer discretionary goods & services stocks gained the most.

The index is trading higher by 0.65% or 102 points at 15,727.46 levels. The index opened at 15,642.75 and hit a high of 15,739.28 levels in today’s session.

MRF, Emami, IGL, Torrent Pharma, Berger Paints, and Whirlpool were among the top contributors to the index's gains.

Shares of Emami jumped 8%, followed by MRF and Torrent Pharma up 4% each. Ajanta Pharma, Torrent Power, Whirlpool, IGL, and Glenmark Pharma also gained 3% each. Adani Ent, Bayer Corp, Edelweiss, Castrol, Indian Hotels, Supreme Ind, Berger Paints, BEL and Crompton gained 1-2%, respectively.

On the other hand, Muthoot Finance, Tata Global, Central Bank, NALCO, NHPC, Cummins India, HAL and IDFC First Bank were trading lower.

Meanwhile, Agro Phos India, Cox & Kings, CSB Bank, NRB Industrial Bearings, Sical Logistics, TCNS Clothing Co., Reliance Home Finance and Ujjivan Small Finance Bank among other stocks that hit a 52-week low on the NSE.

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