Mid- and small-cap indices rally for 6th session: Delhivery, Jupiter Wagons, RVNL among top gainers; NIFTY50 trades lower

The broader market continued with its rally on Monday, May 19, for the sixth consecutive session, outshining the main equity indices. The benchmark indices remained under pressure, majorly dragged by IT stocks.

During the intraday period, Nifty Midcap 100 was trading 0.63% higher, while the Nifty Smallcap 100 index advanced 0.96%.

Over a week, the Nifty Midcap 100 index has gained 3.36%, and the Nifty Smallcap 100 gauge has increased more than 8.3%.

After opening at the 17,666.55 level on Monday, the NIFTY Smallcap 100 index touched a high of the 17,765.5 level, which is 1.16% higher than its previous close. The index’s intraday low was at the 17,537.50 level.

On the index, Delhivery led the rally, soaring over 9.32%. Shares of the logistics solution firm surged after it reported a strong set of earnings in the January-March quarter.

Delhivery turned profitable in the fourth quarter of the financial year 2024-25 after it reported a net profit of ₹73 crore against a loss of ₹68 crore in the same period last year. Its revenue from operations during Q4 rose 6% to ₹2,192 crore versus ₹2,075 crore.

Shares of Jupiter Waggons were another top gainer on the index, jumping 5.12% ahead of its March quarter earnings announcement.

Among others, Zen Technologies (5%), Titagarh Rail Systems (4.67%), IDBI Bank (4.41%), CESC (4.39%) and Ircon International (3.88%) were also top contributors on the index.

IDBI Bank shares were trading higher after the lender said LIC Nominee Director Raj Kumar has ceased to hold the board seat with effect from May 18.

Meanwhile, shares of CreditAccess Grameen (-6.33%), Inventurus Knowledge Solutions (-3.68%), Shyam Metalics and Energy (-3.27%), Godfrey Phillips India (-2.8%) and Kaynes Technology India (-2.32%) were the top laggards on the index.

Opening at the 57,245.40 level, the NIFTY Midcap 100 index touched a high of the 57,451.90 level and a low of 56,816.75 during the intraday period on Monday.

Rail Vikas Nigam (RVNL) was the top contributor on the index, jumping 5.52%. Among others, Supreme Industries (4.29%), Maharashtra Bank (3.94%), The Phoenix Mills (3.7%), Oberoi Realty (3.68%) and Astral (3.67%) were also the top gainers.

On the other hand, shares of midcap firm Vodafone Idea tanked over 10% after the Supreme Court on Monday, May 19, dismissed the plea to waive off its adjusted gross revenue (AGR) dues. Vodafone Idea (Vi) had sought a waiver of more than ₹45,000 crore in AGR dues to ensure its survival.

GMR Airports (-3.74%), PB Fintech (-3.31%), Patanjali Foods (-3.20%), Indus Tower (-3.02%) and LIC Housing Finance (-2.97%) were the other top laggards on the index.

Last week, LIC Housing Finance had reported a 25.4% growth in net profit at ₹1,368 crore in the fourth quarter ended March 2025 as compared to ₹1,091 crore in the same quarter of the 2023-24 fiscal year.

Its total income rose to ₹7,283 crore in the March quarter of FY25 from ₹6,937 crore in the corresponding quarter in FY24.