Shares of mid and small-cap companies have continued at their upward move, with both the S&P BSE mid-cap and small-cap indices rallied 2-3%, though the benchmark indices – the S&P BSE Sensex and the CNX Nifty are trading flat.
Ansal Properties, IVRCL, Ramco Industries, JK Lakshmi Cement, BS Limited, Lanco Infratech, JK Cement, Dalmia Bharat and Orient Cement from the BSE small-cap index have rallied more than 15% each, while IL&FS Transportation Networks, RCF, KSK Energy, Triveni Turbine, Indian Bank, IRB Infra and Edelweiss Financial Services from mid-cap have gained between 10-15% on the BSE.
At 1105 hours, the S&P BSE mid-cap and S&P BSE small-cap indices are up 2% and 3% respectively as against to 0.15% rise in benchmark S&P BSE Sensex. The small-cap index is trading at its highest level since August 2011, while mid-cap index since December 2010.
In the past two trading sessions, both the S&P BSE mid-cap and small-cap indices have outperformed the market by surging 4% each, as compared to a 1% rise in the benchmark index.
The S&P BSE Sensex had touched a record high of 25,376 on Friday, May 16 after election results suggested the opposition Bharatiya Janata Party (BJP) and its allies won an absolute majority in the recently concluded Lok Sabha polls.
The decisive mandate at the 2014 general elections has created the best environment in a long time to bite the bullet on government finances so as to ensure a long and healthy phase of economic growth in the country, analysts say.
Ansal Properties, IVRCL, Ramco Industries, JK Lakshmi Cement, BS Limited, Lanco Infratech, JK Cement, Dalmia Bharat and Orient Cement from the BSE small-cap index have rallied more than 15% each, while IL&FS Transportation Networks, RCF, KSK Energy, Triveni Turbine, Indian Bank, IRB Infra and Edelweiss Financial Services from mid-cap have gained between 10-15% on the BSE.
At 1105 hours, the S&P BSE mid-cap and S&P BSE small-cap indices are up 2% and 3% respectively as against to 0.15% rise in benchmark S&P BSE Sensex. The small-cap index is trading at its highest level since August 2011, while mid-cap index since December 2010.
In the past two trading sessions, both the S&P BSE mid-cap and small-cap indices have outperformed the market by surging 4% each, as compared to a 1% rise in the benchmark index.
The S&P BSE Sensex had touched a record high of 25,376 on Friday, May 16 after election results suggested the opposition Bharatiya Janata Party (BJP) and its allies won an absolute majority in the recently concluded Lok Sabha polls.
The decisive mandate at the 2014 general elections has created the best environment in a long time to bite the bullet on government finances so as to ensure a long and healthy phase of economic growth in the country, analysts say.
