The shares of midcap companies surged significantly on March 19, pushing the Nifty Midcap index up over 2.6 percent to close at 50,817. Notably, this marks the biggest intraday surge for the index since June 5, 2024.
The index had surged 4.3 percent at close on June 5, 2024, after a crash following the results of the Lok Sabha elections 2025.
Cochin Shipyard shares were the top gainer among the pack, rising nearly 9 percent to trade at Rs 1,460 apiece. This comes as defence stocks recorded significant rally, pushing the Nifty India Defence index up nearly 5 percent.
Shares of JSW Infra, Policybazaar-parent PB Fintech and Max Healthcare followed, rising nearly 7 percent each. Vodafone Idea, Bharat Defence (BDL), Rail Vikas Nigam Ltd (RVNL) and Bombay Stock Exchange (BSE) followed, with their respective share prices jumping 6 percent each.
Other notable midcap stocks that recorded significant gains include Prestige Estates, HUDCO, Bank of India, Polycab, Suzlon Energy, HDFC AMC, Tata Technology, Paytm, IREDA, SAIL, Yes Bank, Bharat Forge and more, which rose over 3 percent each.
The shares of small cap stocks also saw significant rise on March 19, with the Nifty Smallcap index jumping over 2 percent to close at around 15,748. RITES shares were the top gainer on the index, jumping nearly 9 percent to close at Rs 231 apiece. Other notable smallcap stocks which recorded massive gains included IRCON, BEML and SW Solar.
"A strategy of buying on dips while being selective may be more effective in the current scenario. A key observation in the MIDCAP Select index suggests a potential bullish reversal breakout, forming an Inverse Head and Shoulders pattern. A breakout in this segment could ignite fresh enthusiasm in the broader market. Traders should closely monitor the midcap space for potential outperforming opportunities," said Sameet Chavan, Angel One’s Head Research for Technical and Derivative.
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