BSE Midcap, Smallcap indices hit record highs

Smallcap index rallied 0.83% to 14,315, surpasses its previous high of 14,239 hit on January 8, 2008

Shares of midcap and smallcap companies continued their upward journey with the S&P BSE Midcap and S&P BSE Smallcap indices hitting a new lifetime high on the BSE in early morning trade on Thursday.

The S&P BSE Smallcap index rallied 0.83% to 14,315, surpassing its previous high of 14,239.24 touched on January 8, 2008 in intra-day trade.

Meanwhile, the S&P BSE Midcap index hit a record high of 14,002, up 0.49%. In comparison, the S&P BSE Sensex was up 0.28% at 29,620.70. The 30-share Sensex is 404 points away from its record high of 30,024.74 touched on March 4, 2015.

On Thursday, the markets rose for a third consecutive session and the rupee hit a 17-month high to breach the 65-mark against the dollar on strong capital inflows as the much-awaited GST Bill passed in the Lok Sabha.

The foreign portfolio investors (FPIs) infused a net sum of an over $4 billion (Rs 29,170 crore) in equities thus far in the month of March.

Navneet Education, Federal Bank, Dewan Housing Finance, Gruh Finance, Finolex Industries, Blue Star, Dishman Pharmaceuticals and Chemicals, Whirlpool of India, Voltas, Venky’s India and Vadilal Industries from the smallcap index and Crompton Greaves Consumer Electricals, Sun TV Network, Havells India and Tata Chemical from the midcap index are trading at their respective lifetime highs on BSE.

Meanwhile, Rane Engine Valve, Rane (Madras), Rane Brake Lining, Ucal Fuel Systems, Sundaram Brake Linings from the auto ancillary sector were up more than 5% each.

The rating agency CRISIL believes balance sheets of automotive components suppliers, whom it rates, are the strongest in a decade, which, along with steady profitability and higher demand, will enable them to sustain their credit quality over the medium term.

That is despite capital expenditure likely to be incurred because of better prospects in fiscal 2018 for most segments - barring commercial vehicles (CVs) and exports - and tighter regulations, CRISIL said in a press release.

Anuj Sethi, Senior Director, CRISIL Ratings says: “The investment cycle will be led by suppliers to PV and two-wheeler OEMs. Both segments are expected to see good growth. Suppliers to CVs will need to wait till at least fiscal 2019, given excess current capacity and sluggish demand. Also, capital spending and investment in R&D will rise over the medium term to conform to tighter regulations.”

COMPANY	LATEST	ALL TIME HIGH	PREV HIGH	PREV DATE
ASIAN GRANITO	370.75	372.35	366.90	24-Mar-17
ASTRAL POLY	576.15	670.00	590.00	28-Mar-17
BLUE STAR	676.00	681.30	642.00	21-Mar-17
BODAL CHEMICALS	154.00	155.30	155.00	06-Oct-16
CROMPTON GR. CON	209.25	211.95	206.20	23-Feb-17
DEEP INDUSTRIES	337.55	343.70	340.00	23-Mar-17
DEWAN HSG. FIN.	367.10	369.00	368.50	28-Mar-17
DISHMAN PHARMA.	301.60	309.40	278.20	28-Mar-17
ESCORTS	536.35	539.20	535.45	23-Mar-17
FEDERAL BANK	91.45	91.90	91.35	28-Mar-17
FINOLEX INDS.	561.00	565.65	556.50	06-Mar-17
FUTURE LIFESTYLE	243.85	246.00	242.45	24-Mar-17
GREAVES COTTON	172.70	176.90	171.65	17-Mar-17
GRUH FINANCE	396.40	403.00	390.05	15-Feb-17
GUJARAT GAS	808.45	820.00	798.95	28-Mar-17
HAVELLS INDIA	470.45	471.45	459.80	06-Oct-16
JOHNSON CON. HIT	1780.05	1830.90	1744.90	22-Jun-15
MAX VENTURES	93.50	94.60	94.25	28-Mar-17
NAVNEET EDUCAT.	168.95	174.70	154.80	28-Mar-17
PHILLIPS CARBON	327.15	327.50	326.70	28-Mar-17
RAIN INDUSTRIES	109.10	110.75	109.15	08-Mar-17
SHARDA MOTOR	1972.65	1990.05	1990.00	23-Mar-17
STEEL STR. WHEEL	833.00	839.90	831.90	28-Mar-17
SUN TV NETWORK	785.75	790.20	784.00	28-Mar-17
SUNDRAM FASTEN.	390.80	393.00	386.10	28-Mar-17
TATA CHEMICALS	593.60	600.10	594.50	28-Mar-17
VADILAL INDS.	958.00	968.45	936.00	28-Mar-17
VENKY'S (INDIA)	1021.05	1028.75	1012.00	28-Mar-17
VOLTAS	423.95	424.90	406.00	20-Oct-16
WHIRLPOOL INDIA	1219.15	1230.00	1210.00	28-Mar-17