Mid- and small-cap indices remain buoyant amid weak market: Waaree Energies, Kaynes Technologies among top gainers

Over a month, the Nifty Midcap 100 index has gained 3.88%, while the Nifty Smallcap 100 gauge has jumped more than 6.4%.

After four days of rally, the equity benchmark indices SENSEX and NIFTY50 declined on Monday, amid a fall in the auto, metal, and realty sectors.

Opening at the 59,665.90 level, the NIFTY Midcap 100 index touched a high of the 59,756.35 level and a low of 59,430.80 during the intraday period on Monday.

Shares of Waaree Energies were the biggest contributor on the index, jumping 5.28%. The stock was buzzing on Monday after the company’s arm secured an order for 540 MW solar modules.

Bank of Maharashtra, Dixon Technologies, and Aditya Birla Capital were the other top gainers, surging 4.25%, 3.07%, and 2.91%, respectively.

Further, shares of Union Bank of India (2.9%), Federal Bank (2.5%), and Bandhan Bank (2.27%) were also trading higher during the intraday period as Nifty Bank touched an all-time high on Monday.

Meanwhile, SBI Card (-3.08%), PI Industries (-1.99%), Marico (-1.67%), Adani Total Gas and Oberoi Realty (-1.14%) were among the top losers on the index.

Opening at the 19,057.55 level on Monday, the NIFTY Smallcap 100 index touched a high of the 19,152.90 level, which is almost 1% higher than its previous close. The index’s intraday low was at the 19,023.85 level.

Kaynes Technologies shares topped the list among gainers on the index, jumping 5.67% during the intraday period. Investors continued to show interest in the firm after it made a significant move into the space industry last week by incorporating a wholly owned subsidiary, Kaynes Space Technology Pvt.

Shares of Natco Pharma (4.29%), Karur Vysya Bank (3.81%), Laurus Lab (3.16%) and IDBI Bank (3.04%) were the other top contributors on the index.

Further, Zen Technologies, Aadhaar Housing Finance and Data Patterns shares also advanced 3%, 2.66% and 2.28%, respectively.

However, Narayana Hrudayalaya (-4.92%), BLS International Services (-2.58%), Godfrey Phillips India (-2%), Devyani International (-1.93%) and Go Digit General Insurance (-1.88%) were among the top losers on the index.