Mid cap index alive and kicking

After a long time, July 11 seems to be a green day. All the major indices have opened in green. Sensex is up by more than 400 points. Other Asian markets have also opened positive, major highlight being the Japanese Nikkei which is trading 600 points higher. All the sectoral indices are trading in green, PSU bank and infra stocks are the major gainers.

On the other hand, the midcap index is at its all-time high. The index as at 10.12 am is at 12027.6. The index has opened higher and gained by 1.24 per cent on an intra day basis. As far as mid cap is concerned only 7 stocks are trading in red, out of which JSW Energy is the major loser. The stocks like Indiabulls Housing Finance, Shriram City Union Finance, Jindal Steel, Cadila Healthcare, and Bank of India are the major gainers in the mid cap segments.

The index which previously closed at 11880.37, on July 11 opened at 11925.69. The index in the last six months has gained by 11 per cent. In the last three months the index gained 13 per cent. On the other hand, the sentiments of the equity markets have not dampened the prices of commodity such as gold and silver apart from crude oil prices. Precious metals are in green and fresh buying is witnessed.