Sensex hits new high of 37,336, Nifty up 111 pts; mid-caps play catch-up

After six days of gains, the Indian markets have taken out their previous all-time highs, which were touched in January. The Sensex on Friday closed at 37,336, gaining 352 points, or 0.95 per cent, while the Nifty rose 111 points, or 0.99 per cent, to end at 11,278. The broader-market small- and mid-cap indices gained in line with the benchmarks. In a reversal of trend, the small- and mid-cap indices have outperformed the benchmark indices in the latest market up move. In the past six sessions, the Nifty Smallcap 100 index has gained 6 per cent, while the Nifty has gained 3 per cent, narrowing the underperformance seen this year. Positive earnings surprise has fuelled the latest gains, say experts.