Buoyed by sustained inflows by foreign institutional investors, BSE Midcap index is hovering near to its all-time high level in August 2016. The index has jumped over 15 per cent to 12,967.71 on August 18, 2016 from 11,245.42 on January 1, 2016. Since the beginning of the ongoing calendar year, 16 stocks in the BSE Midcap index have surged over 50 per cent till August 18. Stocks such as Manappuram Finance surged the most — 195.45 per cent during Jan 1- August 18 this year, followed by Muthoot Finance (101.68 per cent), Indian Bank (98.10 per cent), V-Guard Industries (up 87.15 per cent), Edelweiss Financial Services (up 79.31 per cent) and Cholamandalam Investment & Finance (up 73.49 per cent).
Other midcap majors such as Capital First, Finolex Cables, Sundaram Fasteners, Dalmia Bharat, Biocon, OCL India, Bharat Financial Inclusion soared 72.26 per cent, 68.77 per cent, 67.82 per cent, 66.32 per cent, 64.48 per cent, 63.21 per cent and 57.44 per cent, respectively.
PVR, DCM Shriram and Finolex Cables also gained 54.54 per cent, 54.38 per cent and 52.46 per cent in the ongoing calendar year till August 18. However, stocks such as Mangalam Industrial Finance, Risa International, Wockhardt and KSK Energy Ventures slipped 93.11 per cent, 63.45 per cent and 46.63 per cent in the BSE Midcap space and stood top losers in the index in 2016 till August 18.
During the year, foreign institutional have poured Rs 39,245.95 crore in the Indian equity markets till August 18. Benchmark BSE Sensex jumped by 7.50 per cent to 28123.44 on August 18 from 26160.90 on January 1.