Broader market check: SMIDs gain over 1%; Voda Idea, Swan Energy top contributors

The broader market witnessed a good rally on Tuesday, June 24, as the overall market sentiment remains buoyant amid easing geopolitical tensions.

During the intraday period, Nifty Midcap 100 was trading 0.71% higher, while the Nifty Smallcap 100 index advanced 0.75%.

Over a month, the Nifty Midcap 100 index has gained 3.39%, and the Nifty Smallcap 100 gauge has surged over 4.5%.

Tracking global cues, the Indian stock market was also trading higher on Tuesday. Last seen, the S&P BSE SENSEX was up 185.58 points, or 0.23%, at the 82,082.37 level, while NSE’s NIFTY50 was at the 25,050.40 level, rising 78.50 points, or 0.31%.

Opening at the 58,839.9 level, the NIFTY Midcap 100 index touched a high of the 58,913.15 level and a low of 58,487.70 during the intraday period on Monday.

Vodafone Idea was the top contributor on the index, surging 5.8%. Shares of the telecom firm were rallying amid reports of the Union government weighing fresh relief measures for Vodafone Idea. This will include extending the repayment period of adjusted gross revenue (AGR) dues and altering the interest structure.

L&T Finance (3.69%), Mahindra & Mahindra Finance (3.39%), Steel Authority of India (3.26%), Aditya Birla Capital (3.24%) and Oberoi Realty (3.15%) were the other top gainers on the index.

Shares of Bharti Hexacom (3.11%), HPCL (3.04%), BHEL (2.74%), HDFC AMC (2.64%), Vishal Mega Mart (2.56%) and Indus Tower (2.53%) were also trading higher on Tuesday.

Meanwhile, shares of the Pune-based KPIT Technologies were the biggest loser on the index, declining 5.89%. The stock tumbled after KPIT Technologies, in its mid-quarter business update, said that its overall business environment continues to be uncertain with rising geopolitical concerns and ambiguity around the overall tariff scenario.

Oil India (-4.89%), Bharat Dynamics (-3.58%), Aditya Birla Lifestyle Brands (2.62%), FSN E-Commerce Ventures (-2.52%) and Cochin Shipyard (-2.16%) were the other most losing stocks.

After opening at the 18,526.40 level on Tuesday, the NIFTY Smallcap 100 index touched a high of the 18,550.70 level, which is 1.25% higher than its previous close. The index’s intraday low was at the 18,412.20 level.

Swan Energy (5.75%), HBL Engineering (4.85%), Titagarh Rail Systems (4.45%), Anant Raj (4.39%), PG Electroplast (4.33%) and Delhivery (4.12%) were the most gaining stocks on the small-cap index.

Further, small-cap stocks like Redington (3.3%), Action Construction Equipment (3.19%), CreditAccess Grameen (2.96%), Welspun Corp (2.83%) and RK Forge (2.77%) also contributed to the index.

Meanwhile, small-cap defence stocks like GRSE (-8.21%), BEML (-6.15%), Zen Technologies (-3.01%), and Data Patterns (-2.67%) slide the most on the index.