Midcap, small-cap stks outperform Sensex; Moschip Semiconductor zooms 10%

Outperforming the benchmarks, the mid and small-cap stocks were trading flat in the late morning deals on Tuesday. At 10:50 am, the S&P BSE SmallCap was trading just 17 points lower at 13,828.50 against around 1 per cent decline (nearly 300 points) in the S&P BSE Sensex. Moschip Semiconductor Technology in the S&P BSE SmallCap index jumped over 10 per cent to Rs 26 a piece on BSE after the company said the board has decided to conduct the postal ballot for seeking approval of shareholders for the appointment of Venkata Sudhakar Simhadri as the managing director of the company and the approval of “MosChip Stock Option Plan for 2018". 

On the other hand, the S&P BSE MidCap index was trading 23 points higher at 14,469, with Colgate (Palmolive), Glenmark and Havells being the top contributors to the index. Adani Power, DHFL, Jindal Steel and Reliance capital emerged as the volume toppers on the index. 

Earlier, the S&P BSE Sensex opened nearly 500 points lower on jitters over assembly election results outcome and sudden resignation of RBI Governor Urjit Patel.