Stock market update: Midcaps outperform Sensex; Gruh Finance, IGL jump over 3%
Around 12:25 pm, the BSE Midcap index was 0.57 per cent up at 16105, while the benchmark Sensex was 0.04 per cent down at 37,590.
Around 12:25 pm, the BSE Midcap index was 0.57 per cent up at 16105, while the benchmark Sensex was 0.04 per cent down at 37,590. The NSE Nifty50 was 0.07 per cent up at 11,365 around that time.
Gruh Finance (up 3.60 per cent), Indraprastha Gas (IGL) (up 3.23 per cent), Reliance Communications (up 3.20 per cent), Page Industries (up 2.94 per cent) and Piramal Enterprises (up 2.92 per cent) were among the top gainers in the midcap index.
However, Reliance Infrastructure (down 4.17 per cent), Emami (down 3.86 per cent), Reliance Power (down 2.99 per cent), Indian Hotels Company (down 2.89 per cent) and Castrol India (down 2.79 per cent) were among the top losers in the index around the same time.
Market turned cautious ahead of the RBI's policy meet outcome. Bank, financial and auto stocks, including HDFC twins, Maruti, ICICI Bank and Axis Bank, were among the top drags.
Asian stocks were wobbly on reports that Trump administration may increase the tariff on $200 billion of imported Chinese goods from 10 per cent to 25 per cent.
In the Sensex index, 13 stocks were advancing, while 18 stocks were declining.
Coal India, Tata Consultancy Services and Sun Pharma were leading among Sensex scrips.
Tata Motors, Maruti Suzuki and Axis Bank were among the top losers in the Sensex kitty.