 "Nifty Midcap 100 index hits new high")
Nifty Midcap 100 index hit its new high after a better-than-expected Gross Domestic Product (GDP) growth in the October-December quarter of the fiscal year 2016-17 (Q3FY17) stunned the Street.
Nifty Midcap 100 index touched new high of 16,605, surpassing its previous high of 16,510 touched on February 22, 2017 during intra-day trade on the National Stock Exchange (NSE). Nifty Smallcap 100 index too hit a record high of 6,764 on the NSE in intra-day trade.
Meanwhile, the S&P BSE Smallcap index hit a fresh nine-year high of 13,792 on the BSE in early morning trade on Wednesday. The index is trading at its highest level since January 8, 2008, when it touched a record high of 14,239 in intra-day trade.
“The quarterly GDP growth for Q3 FY17 has exceeded the market’s expectations. The GDP growth for Q3 FY17 came in at 7% more than CARE’s estimation of 5.4% for this quarter,” CARE Ratings said.
The GDP estimates for Q3 2016-17 and 2016-17 as a whole indicate that despite demonetisation India’s economic growth trajectory remained fairly stable. The growth has come about due to higher tax buoyancy and higher government spending, it added.
At 10:04 am; Tata Services Maharashtra (TTML), Dhanlaxmi Bank, Majesco, Neuland Laboratories, Jindal Saw and Prism Cement from the BSE Smallcap index have rallied more than 5% each. Sintex Industries, DLF, Union Bank of India, MRF and Apollo Hospitals from the NSE Midcap 100 index were up more than 2% each.
Only two stocks – Bajaj Finserv from Nifty Midcap 100 and Gujarat State Fertilizers & Chemicals (GSFC) from the Nifty Smallcap 100 – hit their respective lifetime highs on the NSE.
Balkrishna Industries, Finolex Industries, Minda Industries, Tata Metaliks and Nilkamal from the S&P BSE Smallcap index touched record highs.
Nifty Midcap 100 index touched new high of 16,605, surpassing its previous high of 16,510 touched on February 22, 2017 during intra-day trade on the National Stock Exchange (NSE). Nifty Smallcap 100 index too hit a record high of 6,764 on the NSE in intra-day trade.
Meanwhile, the S&P BSE Smallcap index hit a fresh nine-year high of 13,792 on the BSE in early morning trade on Wednesday. The index is trading at its highest level since January 8, 2008, when it touched a record high of 14,239 in intra-day trade.
“The quarterly GDP growth for Q3 FY17 has exceeded the market’s expectations. The GDP growth for Q3 FY17 came in at 7% more than CARE’s estimation of 5.4% for this quarter,” CARE Ratings said.
The GDP estimates for Q3 2016-17 and 2016-17 as a whole indicate that despite demonetisation India’s economic growth trajectory remained fairly stable. The growth has come about due to higher tax buoyancy and higher government spending, it added.
At 10:04 am; Tata Services Maharashtra (TTML), Dhanlaxmi Bank, Majesco, Neuland Laboratories, Jindal Saw and Prism Cement from the BSE Smallcap index have rallied more than 5% each. Sintex Industries, DLF, Union Bank of India, MRF and Apollo Hospitals from the NSE Midcap 100 index were up more than 2% each.
Only two stocks – Bajaj Finserv from Nifty Midcap 100 and Gujarat State Fertilizers & Chemicals (GSFC) from the Nifty Smallcap 100 – hit their respective lifetime highs on the NSE.
Balkrishna Industries, Finolex Industries, Minda Industries, Tata Metaliks and Nilkamal from the S&P BSE Smallcap index touched record highs.
| COMPANY | LATEST | ALL TIME HIGH | PREV HIGH | PREV DATE |
| BAJAJ FINSERV | 3980.00 | 4020.00 | 3980.00 | 28-Feb-17 |
| BALKRISHNA INDS | 1320.05 | 1341.00 | 1309.60 | 28-Feb-17 |
| BOMBAY BURMAH | 695.65 | 712.80 | 684.50 | 28-Feb-17 |
| FEDERAL BANK | 88.85 | 89.35 | 88.15 | 28-Feb-17 |
| FINOLEX INDS. | 538.10 | 541.85 | 540.90 | 22-Feb-17 |
| G S F C | 123.80 | 124.70 | 124.50 | 03-Nov-14 |
| GARWARE-WALL ROP | 695.90 | 700.00 | 697.05 | 28-Feb-17 |
| JINDAL STAIN .HI | 117.50 | 119.50 | 117.45 | 08-Feb-17 |
| MINDA INDS. | 443.00 | 452.25 | 445.00 | 28-Feb-17 |
| NILKAMAL LTD | 1955.00 | 1973.95 | 1948.85 | 28-Feb-17 |
| TATA METALIKS | 523.45 | 527.80 | 526.75 | 28-Feb-17 |
| TRIDENT | 73.30 | 73.80 | 73.20 | 06-Feb-17 |
| VISAKA INDS. | 238.00 | 242.05 | 240.00 | 25-Oct-16 |
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