NSE midcap index hits second straight record high

The NSE midcap index rose to a second consecutive record high on hopes the rally in shares sparked by the election outcomes would lead domestic and foreign institutions broaden their portfolios into riskier plays.

Domestic-oriented midcaps lead, just as with blue chips, given hopes the Bharatiya Janata Party and Narendra Modi will kickstart economic growth with major reforms.

Ramco Cements rises 1.4, Union Bank is up 1.9 percent and Max India gains 8.7 percent.

The CNX Midcap index trades at 15.7 times 12-month forward earnings compared to 15.4 times for the Nifty.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • RBI and government intervention is vital if all Indians are to have homes by 2022

    There is a strong case for interest subvention for India’s real estate sector.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Public perception on climate change

Climate change is already happening; however, surveys conducted in 2008 ...

Parvez Imam

The absoluteness in representations

When a representation replaces the original object or subject, a ...

Dharmendra Khandal

Religion and conservation must go hand in hand

In 1986, former president of WWF International, HRH Prince Philip, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture