The S&P BSE Midcap index hit a new high of 17,184 on the BSE in intra-day deal on Monday after a healthy gain in public sector banks (PSBs), metals and Adani Group stocks. The index surpassed its previous high of 17,133 touched on December 11, 2017 in intra-day trade.
At 12:19 PM; the midcap index was trading 1% higher at 17,174, bouncing back 3.5% or 570 points as the counting of votes showed Bharatiya Party Party (BJP) leading in Gujarat and Himachal Pradesh. The index touched low of 16,605 in early morning trade.
Union Bank of India, Canara Bank, Indian Bank and Central Bank of India from the PSBs were trading higher in the range of 3% to 4%. Jindal Steel & Power, Steel Authority of India (SAIL), Adani Enterprises and Adani Power were up between 2% to 6%.
Page Industries, Shriram Transport Finance Corporation, Sun TV Network and TVS Motor Company from the midcap index hit their respective record highs on the BSE in intra-day trade today.