Stock market update: Midcaps underperform Sensex; Adani Power, SAIL among top losers

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NEW DELHI: A majority of midcap stocks settled with losses on Thursday.

Underperforming the benchmark Sensex, the BSE Midcap index settled 0.52 per cent down at 15,552 with 31 stocks advancing and 68 declining. One stock remained unchanged.

Adani Power (down 5.64 per cent), Vakrangee (down 4.81 per cent), Tata Power Company (down 3.67 per cent), Steel Authority of India (SAIL) (down 3.17 per cent) and Endurance Technologies (down 2.92 per cent) stood among the top losers in the midcap index.

On the other hand, GMR Infrastructure (up 5.59 per cent), Mangalore Refinery And Petrochemicals (up 4.28 per cent), GE T&D India (up 3.31 per cent), Larsen & Toubro Infotech (up 3.27 per cent) and MRF (up 1.94 per cent) were among the top gainers.

Equity benchmarks Sensex scaled all-time high of 36,699.53 and Nifty50 topped the psychologically important level of 11,000 on Thursday owing to buying in oil & gas, bank, financial and FMCG amid firm Asian cues.

Optimism around healthy corporate earnings, a fall in the global crude oil prices and recovering Indian rupee hemmed up together to keep the market up.

The Sensex closed at a record peak of 36,548, up by 282 points, or 0.78 per cent. As many as 17 stocks remained in the green in the index, compared with 14 stocks that settled in the red.

The Nifty finished day’s trading at 11,023, up by 75 points, or 0.68 per cent, with 28 stocks advancing and 22 stocks declining.

Source: Economic Times