Mumbai: The Nifty Smallcap 100 index hit a fresh 52-week high today, supported by gains in select small-cap stocks even as benchmark indices remained subdued.
The index was trading at 20,054.60, up 148 points, or 0.74 per cent, after touching a high of 20,080.30 during the session.
The broader market remained largely flat to negative. The Nifty 50 declined 50.55 points, or 0.21 percent, to 24,284, while the BSE Sensex was nearly unchanged at 77,666.28, up 10.19 points, as of 12.46 pm on August 26. The Smallcap 100 has risen sharply from its 52-week low of 14,986.
Cyient was among the strongest performers in the index, gaining nearly 7 percent to trade around Rs 1,045. The stock has advanced about 15 percent over the past two sessions following the company’s Investor Day, where management presented its medium- to long-term growth plans.
The company has raised its estimated total addressable market and outlined targets for higher order inflows and margin expansion. The stock also moved above its 200-day moving average and touched a six-month high during Wednesday’s trade.
Capri Global Capital gained around 6.2 percent to Rs 254.49, while Olectra Greentech advanced about 5.4 per cent to nearly Rs 1,362. Data Patterns (India) rose 5.3 per cent to around Rs 4,781, while Ola Electric Mobility gained 5.3 percent to Rs 38.10.
Other notable gainers included CESC, which rose around 3.9 per cent, while Deepak Fertilisers was up about 0.7 per cent. The gains, however, were concentrated in a limited set of stocks rather than spread across the broader small-cap universe.
Welspun Corp, Billionbrains Garage Ventures, Graphite India, Inventurus Knowledge Solutions and Varun Beverages were among the notable decliners during the session. The mixed performance indicates that Wednesday’s record high for the Nifty Smallcap 100 was driven primarily by stock-specific buying rather than a broad-based market rally. (BVI)
