NIFTY MIDCAP 150 (NIFTY MIDCAP 150)
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Reliance Surges Most Since 2020, Lifting Sensex 1,233 Points
The BSE Sensex closed at 75,692.78, up 1,233.25 points or 1.66%, while the Nifty 50 settled at 23,440.80, gaining 387.70 points or 1.68%, as Reliance Industries posted its strongest single-day gain since April 2020. The rally was driven by better-than-expected second-quarter earnings, improving domestic economic indicators, foreign investors turning buyers, and crude oil's retreat from a six-month high. The Nifty Oil & Gas index surged nearly 6% and the Nifty Metal index rose more than 3%, with Tata Steel, JSW Steel and Shriram Finance among the top gainers and the Nifty Smallcap 250 up 1.35%.
FIIs dump Indian stocks for 10th week as midcaps, smallcaps post worst losses in 20 months
Midcap and smallcap indices have logged their worst weekly decline in roughly two years, with the broader selloff marking the worst losses in 20 months. Foreign institutional investors extended their selling streak to a tenth consecutive week, deepening the market slide. The sustained FII exodus has raised questions over whether the worst is over or further pain lies ahead.
Midcap rally narrows as 15 stocks drive 50% of gains
The Nifty MidCap 150 has rallied nearly 3821 points, or 20%, since the start of April. Of the total gains, 15 stocks, including Coforge, Vodafone Idea, One97 Communications, Larus Labs, BHEL, Lenskart Solutions, MCX, BSE, IDFC First Bank, Federal Bank, Dixon Tech, PB Fintech, Billionbrains Garage, Info Edge India and Yes Bank contributed more than 1,924 points, or over 50%, of the gains.
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