Nifty Midcap 100 Achieves Historic High Amid Market Volatility
NIFTY Midcap 100 Creates History, Becomes First In Indian Market To Achieve...
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The Nifty Midcap 100 index reached a record high of 62,113.85, marking a 3.5% increase, while the Nifty Smallcap 100 rose 4%. This growth comes despite a volatile market influenced by crude oil concerns and a falling rupee, with domestic investors stepping in as foreign investors sold off shares.
- 01Nifty Midcap 100 hit an all-time high of 62,113.85.
- 02Nifty Smallcap 100 rose to 18,800, close to its record peak.
- 03Benchmark indices like Sensex and Nifty saw declines.
- 04Foreign Institutional Investors (FIIs) sold off shares worth Rs 110.7 billion.
- 05Domestic Institutional Investors (DIIs) bought shares worth Rs 213.9 billion.
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In a notable turn of events, the Nifty Midcap 100 index has achieved a historic high of 62,113.85, reflecting a 3.5% increase over the past week. This rise comes as the Nifty Smallcap 100 also gained 4%, nearing its record level of 19,224.95. The broader indices outperformed benchmark indices like Sensex and Nifty, which faced declines due to ongoing concerns over crude oil prices linked to the Iran-US conflict and a depreciating rupee. The Sensex closed down 0.5% at 77,328, while Nifty settled below 24,200. Notably, stocks such as Yes Bank, Bharat Heavy Electricals (BHEL), and Coforge were among the top gainers, contributing to the midcap and smallcap rally. Despite the positive performance of these indices, FIIs were net sellers, offloading shares worth Rs 110.7 billion, while DIIs provided crucial support by purchasing shares worth Rs 213.9 billion. Overall, the total market capitalization of BSE-listed companies increased by over Rs 10 lakh crore during the week.
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The rise in midcap and smallcap indices suggests potential investment opportunities for domestic investors, providing a counterbalance to the poor performance of benchmark indices.
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