Mid- and small-cap indices rise over 1%: OFSS, Waaree Energies, Welspun Living lead gains

Over a month, the Nifty Midcap 100 index has gained 3.4%, while the Nifty Smallcap 100 gauge has jumped nearly 3%.

The equity benchmark indices SENSEX and NIFTY50 continued to rise for the third session, fuelled by a strong rally in IT stocks after US President Donald Trump said he feels "certain" that there will be "no difficulty" in a "successful conclusion" of trade talks with India.

Opening at the 57,757.80 level, the NIFTY Midcap 100 index touched a high of the 58,069.05 level and a low of 57,729.90 during the intraday period on Wednesday.

Oracle Financial Services Software (OFSS) was the biggest contributor to the index, soaring over 10%. The stock gained as its parent firm, Oracle Corporation, posted better-than-expected earnings.

Oracle reported a 12% rise in revenue to $14.9 billion for the quarter ending August 31, up from $13.3 billion in the same period last year. However, the company’s net income remained largely unchanged at $2.93 billion, or $1.01 per share, compared to $2.93 billion, or $1.03 per share, in the year-ago quarter.

Waaree Energies (5.84%), Persistent Systems (5.23%), Tata Elxsi (4.98%), Bharat Dynamics (4.58%) and Coforge (4.21%) were the other top gainers on the index.

Shares of Tata Elxsi surged over 5% in Wednesday’s trading session following the company’s announcement of the inauguration of the ‘Bayer Development Centre in Radiology’ at its Pune facility.

Further, shares of Mphasis (4.20%), Union Bank of India (3.96%), Bank of India (3.88%), Tata Technologies (3.8%) and KPIT Technologies (3.76%) were also trading higher.

Meanwhile, BSE Limited (-3.46%), Supreme Industries (-2.72%), Ola Electric (-2.52%), Escorts Kubota (-2.44%) and Aditya Birla Fashion and Retail (-2.39%) were among the top losers on the index.

Opening at the 17,823.10 level on Wednesday, the NIFTY Smallcap 100 index touched a high of the 17,937.55 level, which is 1.08% higher than its previous close. The index’s intraday low was at the 17,823.10 level.

Welspun Living, International Gemmological Institute (India), and Zensar Technologies were the top gainers on the index, surging 10.89%, 7.13%, and 6.05%, respectively.

Shares of Himadri Speciality Chemical (5.02%), Trident (4.23%), Poonawalla Fincorp (3.97%), Cyient (3.93%) and Brigade Enterprises (3.24%) also contributed to the gauge.

On the flip side, shares of FirstCry owner Brainbees Solutions (-4.48%), Inventurus Knowledge Solutions (-1.92%), Godfrey Phillips India (-1.66%), Action Construction Equipment (-1.52%) and Crompton Greaves Consumer Electricals (-1.38%) were the top losing stocks on the index.