Mid-caps touch all-time peak

The Bombay Stock Exchange Midcap index (for mid-cap companies) today hit an all-time high level of 6118.71. The index has scaled the new peak after a gap of eight months. The mid-cap index touched 6033.30 on May 10 last year.

The BSE Mid-cap index joined the benchmark Sensex and four sectoral indices "� IT, Bankex, Consumer Durables and Oil & Gas "� which have all crossed their previous peaks touched on May 10, 2006.

The major drivers for the mid-cap index were stocks from the information technology, banking, steel, cement and engineering sectors.

These sectors, which account for 22 per cent of the total market capitalisation of mid-cap scrips, today contributed 277 points for the index to scale the new high.

The mid-cap index has appreciated as much as 64 per cent (2,398 points) from a low of 3,721 it touched on June 14 last year.

In comparison, the Sensex gained 58 per cent to close at 14,131.34 (8,929.44) during the same period.The 30 stocks that have done the trick for the mid-cap index are all trading at their all-time highs currently.

Some of the top scrips from these 30 in terms of the current market price are Madras Cement (Rs 3,690), Divi's Laboratories (Rs 3,190), CRISIL (Rs 2,485), CMC (Rs 1,245), Titan Industries (Rs 927), Deccan Chronicle (Rs 875) and Aurobindo Pharma (Rs 762).

While the top five sectors added 277 points to the total index gain, sectors such as sugar, pharmaceuticals, cotton textiles, automobiles (two/three wheelers) and food products were on the losing side, contributing a 219-point fall in the mid-cap index.

Of the 262 counters that constitute the mid-cap index, the market prices of 124 appreciated from their May 10 levels and 138 reported a decline in their prices during the period. 
 

FAST & FURIOUS
In Rs	May 10	Jan 17	%chg
Transworld Infotech	27.55	82.50	199.46
Educomp Solutions	410.25	971.00	136.68
Swan Mills	27.26	61.25	124.69
KSL & Inds	117.50	257.00	118.72
Shree Prec Stl	267.00	568.60	112.96
CMC	582.10	1221.84	109.90
Jaybharat Textiles	53.36	107.00	100.52
Kesoram Ind	295.25	584.70	98.04
India Infoline	183.30	361.20	97.05
AIA Engineering	668.30	1316.90	97.05

While the gainers have contributed a 780-point rise in the index, the losers accounted for a 695-point fall in it.

Of 118 stocks, the market prices of seven have more than doubled from their May 10 levels, 22 scrips gained in the range of 50 to 100 per cent and another 29 appreciated between 25 and 50 per cent.

Transworld Infotech was the largest gainer, having appreciated 199 per cent to close at Rs 82.50 from Rs 27.55 on May 10.

This was followed by Educomp Solutions which gained 137 per cent to Rs 971 (Rs 410.25), Shree Precoated Steel 113 per cent to Rs 568.60 (Rs 267) and KSL Realties 119 per cent to Rs 257 (Rs 117.50).