MidCap stocks fell by 1.15%, while SmallCap stocks declined by 0.99%
MUMBAI: Trading on Thursday started lackluster but gained momentum as speculation mounted that leading IT companies would report strong performances for the April–June quarter of the 2025 fiscal year. This optimism propelled large-cap indices to close at record highs, while SmallCap and MidCap stocks ended the day in the red.
The BSE 30-share Sensex closed at 81,343, marking a 627-point increase or 0.78 per cent, reaching a peak of 81,522.5 during the session. Similarly, the Nifty 50 ended at 24,801, up by 188 points or 0.76 per cent, after touching a record high of 24,838.
Notable gainers included TCS, Bajaj Finserv, M&M, HUL, Infosys, HCL Tech, Tech Mahindra, SBI, Kotak Bank, Bharti Airtel, ITC, and ICICI Bank, with gains ranging from 0.7% to 3%.
Conversely, MidCap stocks fell by 1.15 per cent compared to the previous day’s close, while SmallCap stocks declined by 0.99 per cent.
In sectoral performance, the Nifty IT index surged by 2.2%, crossing the 40,000-mark, followed by the Nifty Financial Services index which rose by 0.57%. However, the Nifty Media index experienced a decline of 3.57%.
Market analysts anticipate this trend to persist as investors redirect their investments from SmallCap and MidCap stocks ahead of the Union Budget 2024-25. There’s a growing perception among investors that large-cap stocks offer greater stability during market volatility.
