Small and midcap indices clocked strong gains on May 5, outperforming benchmark indices Sensex and Nifty, supported by crude-sensitive names and strong reactions to earnings.
The Nifty Midcap 100 index jumped 1.7 percent to end at 54,619, while Nifty Smallcap 100 index rose over 0.8 percent to around 16,577. Gains in the broader market come on a day of steady gains in benchmark indices, with the Sensex rising by 300 points to around 80,861, while Nifty 50 was up 0.5 percent to hover around 24,487. The metal names, and shares of downstream oil companies were sharply higher during the trading session.
Read More: Foreign buying, oil cooloff take Nifty to highest closing of 2025 at over 24,450
"While near-term challenges such as global macros, trade wars, and a weak 4QFY25 will keep the market volatile and jittery, we believe that the medium- to long-term growth narrative for India remains intact," said Motilal Oswal, while it said it still prefers largecap stocks over broader markets.
Nifty Midcap Index
Adani Total Gas was the top gainer on the index, rising nearly 11 percent to trade at Rs 665 apiece. This is the highest level for the stock in over three months. Notably, Adani Group stocks have been significantly rallying today after a report said that representatives for billionaire Gautam Adani and his companies met officials from US President Donald Trump's administration to seek dismissal of the criminal charges against him.
Motilal Oswal Financial Services shares meanwhile rose over 9 percent to trade at Rs 694 apiece. Indraprastha Gas shares followed, rising nearly 7 percent. Hindustan Petroleum Corporation Limited (HPCL), Polycab and Biocon shares meanwhile were trading over 5 percent higher.
Other midcap stocks which recorded significant gains include Waaree Energies, Indian Bank, Policybazaar, Bharat Dynamics, Max Health, Paytm, Kalyan Jewellers, Marico, Voltas, HUDCO and Tata Tech.
Nifty Smallcap Index
JBM Auto shares were the top gainer on the Nifty Midcap index, rising nearly 8 percent to trade at Rs 694 apiece. The Great Eastern Shipping Company and Godfrey Phillips shares followed, rising over 5 percent each.
Other notable smallcap stocks which recorded strong gains include Inox Wind, Brigade Enterprises, Radico Khaitan, IRCON, Angel One, CESC, IEX, Poonawalla Fincorp, Castrol India, GRSE, Hindustan Copper and more.
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