CNX Midcap index hits record high

In past seven trading sessions, CNX Mid-cap Index rallied 6.7% against 5% rise in the benchmark index.

Shares of midcap companies are continue at their upward march for the seven straight trading sessions with the National Stock Exchange (NSE) CNX Mid-cap index hitting a fresh record high today.

At 1427 hours, CNX Mid-cap index was up 0.60% at 13,608 points, after hitting a new high of 13,631 in intra-day trade. The CNX Nifty was down 0.20% at 8,761.

In past seven trading sessions, the CNX Mid-cap Index, which comprises 100 stocks, rallied 6.7% against 5% rise in the benchmark index.

The Bombay Stock Exchange (BSE) S&P BSE Mid-cap index hit high of 11,128 during intra-day deal, is 53 points away from its lifetime high of 11,181 touched on March 4, 2015.

The foreign institutional investors (FIIs) and domestic institutional investors (DIIs) have collectively invested net amount of Rs 2,632 crore in equities between March 30 and April 9, as per provisional data from the stock exchanges.

Anil Dhirubhai Ambani Group (ADAG) all four listed companies – Reliance Communications (up 14% at Rs 72.30), Reliance Power (5% at Rs 61.55), Reliance Infrastructure (4% at Rs 475) and Reliance Capital (3% at Rs 456) – gained between 3%-14% on the NSE.

Century Textiles & Industries surged 6% to Rs 742 on the NSE on the back of heavy volumes. In past two weeks, the stock surged 22% from Rs 608 on March 27, after the promoter increased their stake in the company by converting warrants into equity shares.

Bharat Electronics, MindTree, Ramco Cement, SKS Microfinance, Apollo Tyres, Bajaj Finance, ABB, United Breweries, Max India and Glenmark Pharmaceuticals are few from CNX Mid-cap index gained between 12% and 19% in past seven trading sessions.