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Market Now: Smallcaps in sync with midcaps, outperform Sensex

Sensex and Nifty were in the negative territory on selling in oil, metals, private bank, financial and auto stocks.

ETMarkets.com|
Updated: May 23, 2018, 11.18 AM IST
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NEW DELHI: In line with midcaps, smallcaps too were outperforming Sensex during Wednesday's trade.

Around 11:10 am, the BSE Smallcap index was 0.32 per cent up at 17,111, while the BSE Sensex was 0.16 per cent down at 34,596. The Nifty50 index was 0.35 per cent down at 10,500 around the same time.

Shares of Madhucon Projects (up 9.15 per cent), Lakshmi Energy & Foods (up 8.77 per cent), Strides Shasun (up 8.58 per cent), Minda Industries (up 8.44 per cent) and Ruchi Soya Industries (up 8.37 per cent) jumped over 8 per cent in the smallcap index.

Shares of Gammon Infrastructure Projects (up 7.93 per cent), BLS International Services (up 7.54 per cent) and Trident (up 7.36 per cent) gained almost 8 per cent.

On the other hand, shares of Ugar Sugar Works (down 9.91 per cent) cracked 10 per cent in the smallcap index.

Shares of Dwarikesh Sugar Industries (down 6.80 per cent), Adlabs Entertainment (down 5.77 per cent), Kesar Terminals & Infrastructure (down 5.58 per cent) and Pincon Spirit (down 5 per cent) found themselves among the top losers.

Sensex and Nifty were in the negative territory on selling in oil, metals, private bank, financial and auto stocks amid sustained capital outflows by foreign funds.

Market sentiment remained weak in the absence of any positive trigger amid sustained capital outflows.

Global cues were also weak after the US President Donald Trump said he was not satisfied with bilateral trade talks with China that occurred last week.

Tata Steel, Dr Reddy's Labs, IndusInd Bank and ONGC were among the top Sensex losers.

On the contrary, State Bank of India, Tata Motors and NTPC were among the top gainers in the Sensex index.

As many as 11 stocks were advancing in the Sensex kitty, compared with 20 stocks that were declining.
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