BSE Small-cap index hits over three-month high

Since November 18, the index has gained 5%, as against 4% rise in the Mid-cap and 2.8% gain in the Sensex

S&P Small-cap index continued its rally on Tuesday, and is edged higher for the eight straight trading session.

At 10:24 AM, the S&P BSE Small-cap index was up 0.55% at 11,712 points, as compared to 0.18% rise in the S&P BSE Sensex. It hit an intra-day high of 11,713, its highest level since August 19, 2015. 

Munjal Auto Industries, Tree House Education & Accessories, Vimta Labs, Kanoria Chemicals, Ucal Fuel Systems, Saregama India, Avanti Feeds and Suzlon Energy were trading higher more than 5% each.

Future Retail, Gayatri Projects, Rajesh Exports, Trent and SRS are among 21 stocks from the smallcap index that hit their respective 52-week highs on the BSE today.

A strong domestic institutional investors (DIIs) inflow have led rally in the small-and-mid cap stocks. DIIs have made net inflow of Rs 3,918 crore between November 19 and November 30, according to stock exchanges provisional data.  Foreign institutional investors on the other hands sold net amount of Rs 2,974 crore in equities, data show.

Since November 18, in past eight trading sessions, the smallcap index outperformed the market by appreciating 5% against 4% rise in the S&P BSE Midcap and 2.8% gain in the benchmark index.

Titagarh Wagons, RPG Life Sciences, Shreyas Shipping, Nelco, Ajmera Realty and Parsvnath Developers have rallied more than 30% during the period.