S&P BSE 500, Nifty Midcap 100 index hit record highs

Total 12 stocks include Biocon, Alkem Lab, SJVN, Aarti Ind and Dilip Buildcon hit record highs.

The S&P BSE 500 index and Nifty Midcap 100 index hit their respective all-time highs after a sharp rally in steel and infrastructure stocks.

At 02:10 pm; the S&P BSE 500 index was up 0.55% at 12,134 to hit a lifetime high of 12,145 in intra-day trade on the BSE.

The S&P BSE 500 index is set to close above its previous record high of 12,074, which it touched on September 8, 2016. On Friday, the index hit a high of 12,127, but finally settled at 12,068.

Nifty Midcap 100 index too hit a record high of 16,333, surpassing its previous high of 16,316 touched on February 10, 2017 during intra-day trade on the National Stock Exchange (NSE).

As many as 12 stocks such as Biocon, Alkem Laboratories, SJVN, Dilip Buildcon, Aarti Industries, Motilal Oswal Financial Services, Vinati Organics and Elgi Equipments from the S&P BSE 500 & Nifty Midcap 100 index hit their respective record highs.

Besides these, 20 stocks from the BSE 500 pack such as Tata Steel, GAIL (India), DCB Bank, RBL Bank, Tata Power Company, Vedanta, Greaves Cotton and Jindal Steel & Power (JSPL) hit their respective 52-week highs.

Tata Steel and Jindal Steel & Power (JSPL) from the steel sector hit 52-week highs after Care Rating said in the coming financial year 2017-18, steel production is expected to remain higher. This will be backed by an expected revival in consumption.

“An increase in infrastructure allocation by the government in the Union Budget 2017-18 is expected to drive the pace of construction and infrastructure in the country. Apart from this, the National Steel Policy 2017 released by the government also aims to increase steel production. Thus, both production and consumption of steel is expected to remain buoyant in 2017-18,” Care Rating said in recent report.

Dilip Buildcon has surged 7% to Rs 294 after the company said it has received ‘Letter of Award’ from National Highways Authority of India (NHAI) for a four-laning project worth Rs 911 crore in Maharashtra. The order is to for a 67-kilometer long road project from Tuljapur to Ausa section of National Highway- 361.

COMPANY	LATEST	52 WK HIGH	PREV HIGH	PREV DATE
AARTI INDS.	786.05	800.00	800.00	07-Feb-17
AEGIS LOGISTICS	202.80	204.65	204.55	17-Feb-17
ALKEM LAB	2073.00	2073.95	2028.00	17-Feb-17
BIOCON	1127.30	1133.00	1123.00	17-Feb-17
C P C L	389.00	397.00	396.20	17-Feb-17
DCB BANK	144.65	145.00	140.25	17-Feb-17
DILIP BUILDCON	289.05	294.00	293.40	09-Feb-17
ELGI EQUIPMENT	214.15	218.00	217.80	17-Feb-17
GAIL (INDIA)	523.00	528.00	513.00	17-Feb-17
GREAVES COTTON	161.20	162.40	154.00	17-Feb-17
JINDAL STEEL	101.80	102.60	96.20	07-Feb-17
JP ASSOCIATES	15.37	15.69	15.32	17-Feb-17
L&T FIN.HOLDINGS	117.60	118.50	117.85	17-Feb-17
MOTIL.OSWAL.FIN.	657.00	662.05	653.00	17-Feb-17
RBL BANK	423.30	427.00	421.00	17-Feb-17
SJVN	36.10	36.25	36.05	17-Feb-17
TATA POWER CO.	85.30	85.80	84.80	17-Feb-17
TATA STEEL	485.55	487.85	487.00	08-Feb-17
VEDANTA	270.25	271.05	265.95	17-Feb-17
VINATI ORGANICS	775.10	799.75	766.00	07-Feb-17