The mid and smallcap indices advanced for the fourth consecutive session on Wednesday, supported by strong buying in select stocks.
The Nifty Smallcap index gained 1.5 per cent over the past four sessions, while the Midcap index rose 1.74 percent during the same period.
Welspun Living led the rally in the smallcap segment, surging up to 9 percent on heavy volumes. Recently-listed International Gemmological Institute (India) and Himadri Speciality Chemical advanced 7.5 percent and 6 percent, respectively.
Other major gainers in the smallcap space included Zensar Technologies, Trident, Cyient and Garden Reach Shipbuilders & Engineers, which climbed up to 6 percent.
In the midcap pack, Oracle Financial Services Software (OFSS) rose over 9 percent, leading the gains.
Shares of IT companies rallied sharply, with the Nifty IT index climbing more than 2 percent. The sectoral index extended gains for the second day after a five-session losing streak.
The rise in IT counters followed remarks by US President Donald Trump that Washington and New Delhi would resume talks to resolve trade frictions.
Among major IT gainers, Tata Elxsi advanced 4.69 percent and Persistent Systems 4.61 percent. Coforge, Mphasis, Union Bank of India, Tata Technologies and Bharat Dynamics gained up to 4 percent.
Meanwhile, benchmark indices also traded higher, buoyed by firm global cues and optimism over trade negotiations. The Sensex was up 491.16 points or 0.61 per cent at 81,592.48 in early trade. The Nifty rose 152.40 points or 0.61 percent to 25,021.00, reclaiming the 25,000 level after more than two weeks.
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