On a day when the benchmark indices ended flat, the BSE Mid-Cap index climbed to a record high. The mid-cap barometer closed at 10,499.86 points after gaining 143.75 or 1.4%.
After under-performing Sensex in 3 of the last 4 months ending October, the broader mid-cap index has outperformed Sensex with gains 4.43% in November. In YTD, the BSE Mid-Cap has gained 56.6% against 3.4% gains on the Sensex.
Not surprisingly, even as blue-chip indices failed to make headway on Wednesday, the total market value of listed BSE scrips managed to scale the R100 lakh crore-milestone, supported by the momentum in mid-cap stocks.
Shares of the BPO firm Firstsource Solution rallied the most with a 12% gain, followed by Suzlon Energy (9.8%), MRF (9.5%), Hatsun Agro Products (9%), Lanco Infratech (7.9%), Sulabh Engineers and Services (7.9%), Sadbhav Engineering (7.2%) and Hindustan Construction (7%).
Shares of Torrent Pharma scaled record high on Wednesday along with other stocks such as Tata Chemicals, Bajaj Corp, Redington India, Britannia, Havells India, Pfizer and ING Vysya Bank. Since October 16, Torrent Pharma’s market cap has risen by 5,610.3 crore, with BSE Mid-Cap gaining near 14% during this period. Jet Airways and Strides Arcolab hit their 52-week highs.