MCX India and Three Other Midcap Stocks Reach 52-Week Highs Amid Market Decline
MCX India among 4 midcap stocks that hit 52-week high; rally up to 17% in a month
The Economic Times
Image: The Economic Times
Despite a decline in the benchmark Sensex, four midcap stocks from the BSE 150 index, including Multi Commodity Exchange of India (MCX), achieved 52-week highs. These stocks have shown significant gains, with some rising by up to 17% in the past month, signaling strong momentum in a challenging market.
- 01Sensex fell by 702 points to close at 76,847.
- 02Four midcap stocks hit 52-week highs despite broader market weakness.
- 03Multi Commodity Exchange of India (MCX) reached a new high of ₹2,776.45.
- 04Sona BLW Precision Forgings and Hitachi Energy India also saw gains of 17%.
- 05Steel Authority of India gained 12% in the last month.
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On Monday, the benchmark Sensex experienced a significant drop of 702 points, closing at 76,847. Despite this downturn, four stocks from the BSE 150 midcap index reached their 52-week highs, indicating strong performance amid broader market weakness. Notably, the Multi Commodity Exchange of India (MCX) achieved a new high of ₹2,776.45 and closed at ₹2,766.45, reflecting an 11% gain over the past month. Similarly, Hitachi Energy India and Sona BLW Precision Forgings both saw their stocks rise by 17%, reaching new highs of ₹28,847.75 and ₹571.5, respectively. Steel Authority of India also performed well, gaining 12% to hit a new high of ₹171.4. These milestones are generally seen as bullish signals, suggesting potential for further gains.
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The rise in these midcap stocks may encourage investor confidence, potentially leading to increased investments in the sector.
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