Market Now: BSE MidCap hits record high; Wockhardt surges over 8%

Tata Power, Reliance Industries, Sun Pharma were trading as the top gainers.

PEER COMPANIESTata PowerTata Global BeveragesSun PharmaReliance IndustriesLarsen & ToubroJubilant FoodWorksITCHindalcoGMR InfrastructureCrompton GreavesBank of IndiaBank of BarodaAjanta PharmaEXPAND TO VIEW ALL NEW DELHI: Gains in shares of Wockhardt (up 8.53 per cent), Tata Power Company (up 5.99 per cent), Ajanta Pharma (up 4.72 per cent) and GMR Infrastructure (up 4.02 per cent) helped BSE MidCap index hit fresh record high of 16,142 in Wednesday’s trade, extending the winning streak for a third session.

Glenmark Pharmaceuticals (up 3.19 per cent), Union Bank of India (up 3.05 per cent), Bank of India (up 2.86 per cent), Crompton Greaves Consumer Electricals (up 2.19 per cent) and NALCO (up 2.14 per cent) also registered decent gains.

The S&P BSE MidCap index was trading 58 points higher at 16,094 around 12 pm (IST).

Benchmark indices were trading up on buying by domestic institutional investors even as retail inflation rose to a five-month high.

However, selling emerged in FMCG and metal stocks which cooled off markets a bit.

Increased Consumer Food Price Index (CFPI) data for the month of August seems to have upset many FMCG stocks as the Nifty FMCG index broke three-session winning streak to slip into the negative zone in Wednesday’s trade.

FMCG majors ITC, Jubilant Foodworks, Emami and Tata Global Beverages were trading in the red.

In the Nifty pack, Tata Power, Reliance Industries, Sun Pharma, Bank of Baroda and Dr Reddy’s were trading as the top gainers.

Bharat Petroleum, ITC, Indiabulls Housing Finance, Larsen & Toubro and Hindalco were losing in trade.

In the Nifty50 pack, 24 stocks were trading in the green, while 27 stocks were in red.

On BSE, 1,232 stocks were advancing whereas 1,104 stocks were lagging.

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