INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The BSE Midcap index found itself on a weak footing on Wednesday, but still better-off than benchmark Sensex.
Around 10:50 am,
the midcap index was 0.11 per cent down at 16030, while Sensex was 0.48 per cent down at 34,783
The Nifty50 index was 0.51 per cent down at 10,579 around the same time.
Vakrangee (down 4.99 per cent) was the top loser in the midcap
index, followed by Bharat Electronics (down 3.70 per cent) and Glenmark Pharmaceuticals (down 3.15 per cent).
Adani Power (down 2.68 per
cent), Divi's Laboratories (down 2.33 per cent), Endurance Technologies (down 1.90 per cent), LIC Housing Finance (down 1.86 per cent) and
IDFC Bank (down 1.83 per cent) also found themselves among the losers in the index.
On the other hand, Reliance Communications (up 5.64 per
cent) was surging after a truce between Ericsson and the telco appeared imminent, with both sides veering towards Rs 600-700 crore as a
settlement amount that would end their eight-month battle, according to people aware of the negotiations
IIFL Holdings (up 4.76 per cent), Torrent Power (up 4.21 per cent), Mahindra Mahindra Financial Services (up 1.99 per cent), Mphasis (up
1.76 per cent), Reliance Capital (up 1.61 per cent), ABB India (up 1.58 per cent) and Petronet LNG (up 1.54 per cent) were also among top
gainers in the midcap index
Equity markets were down, tracking a weak trend in global markets amid fresh concerns of a possible China-US trade war.
Unabated capital
outflows by foreign funds and profit-booking by retail investors too dampened sentiments.
There was caution among investors ahead of the May
month derivatives expiry tomorrow.
In the Sensex index, 6 stocks were up, while 25 were down.
