Market Now: BSE Midcap outpaces Sensex; Vakrangee jumps 5%

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NEW DELHI: The BSE Midcap index was outpacing benchmark Sensex during Wednesday’s trade.

Around 11:10 am (IST), the BSE Midcap index was trading marginally up by 0.05 per cent up at 16,277, while the benchmark Sensex was 0.48 per cent down at 33,695. The NSE Nifty50 index was 0.52 per cent down at 10,373.

Shares of Vakrangee (up 4.99 per cent), Natco Pharma (up 3.35 per cent), MphasiS (up 2.49 per cent), NBCC (India) (up 2.42 per cent), IDBI Bank (up 2.24 per cent), Kansai Nerolac Paints (up 1.68 per cent), Wockhardt (up 1.47 per cent), Indian Hotels Company (up 1.31 per cent) and Steel Authority of India (SAIL) (up 1.31 per cent) were among the top gainers in the BSE Midcap index.

On the other hand, shares of Bank of India (down 2.79 per cent), Endurance Technologies (down 2.29 per cent), Larsen & Toubro Infotech (down 2.24 per cent), Oberoi Realty (down 2.17 per cent), Canara Bank (down 1.73 per cent), L&T Finance Holdings (down 1.55 per cent) and Federal Bank (down 1.25 per cent) were among the top losers in the midcap index.

Weak global cues and selling in bank, financial, auto and metal stocks were keeping the bourses in the red.

Investors’ sentiments remained negative on weak trend in other Asian markets following a drop in Wall Street as US President Donald Trump replaced his secretary of state, and plans to impose new tariffs on China.

Among the 50 stocks in the Nifty index, 16 were trading in the green, while 34 were in the red.

Source: Economic Times