BSE Smallcap index records sharpest intra-day rally in over 5 months

The development, analysts say, has given a fresh trigger to the mid-and small-caps that can see some uptick in the days ahead

Shares of small-cap firms were in focus on Monday, with the BSE SmallCap index recording its sharpest single-day gain in over five months to hit a 52-week high.

The rally was triggered by the Securities and Exchange Board of India’s (Sebi’s) move to tweak norms governing multi-cap funds.

Even as the benchmark Sensex declined 0.25 per cent, the BSE SmallCap closed 4 per cent higher at 15,145 points, while the BSE MidCap recorded a 1.6 per cent rise.

The small-cap index reported its sharpest gain since April 7, when it rose 4.3 per cent on the BSE. It hit a 52-week high of