Midcap index hits fresh high as smallcap stocks outperform
Business
For the second week straight, midcap and smallcap stocks outperformed big names like Sensex and Nifty.
The Midcap index even hit a fresh high, while Sensex and Nifty slipped a bit, thanks to MSCI rebalancing and ongoing U.S.-Iran tensions shaking things up.
DIIs buy over ₹25,800cr
Telecom, power, capital goods, and PSU banks saw solid gains (up 2% to 3%), but FMCG and oil and gas dropped by 1% to 1.5%.
DIIs were busy buying with over ₹25,800 crore invested this week, while FIIs pulled out nearly ₹23,700 crore, with around ₹21,000 crore of that on Friday due to MSCI rebalancing.
Lower crude prices and a stronger rupee helped keep the broader rally going despite worries about monsoon forecasts.