Midcap and smallcap indices gain over 2.5%; Mazagon Dock, Bharat Forge, IREDA among top gainers

The Indian stock market on Tuesday, April 15, zoomed over 2% as investors confidence was boosted following a likely relaxation on auto tariffs and a rally in the global markets.

The US government exempting tariffs on smartphones, semiconductors, computers and certain electronic items also helped the market sentiment.

At 1:30 PM, the S&P BSE SENSEX was trading at the 76,809.20 level, jumping 1,651.94 points, or 2.20%, while NSE’s NIFTY50 soared 508 points, or 2.23%, at the 23,336.55 level.

The broader market was also trading higher on Tuesday, with the Nifty Smallcap 100 index outperforming the main NIFTY50 index, surging 2.78% at the 16,131.75 level. The Nifty Midcap 100 was trading at 51,607.15, climbing 2.19%.

In the last month, the Nifty Midcap 100 index has gained over 7.3%, and the Nifty Smallcap 100 gauge has increased 8.32% despite various tariff tensions.

On the Nifty Midcap 100 gauge, Mazagon Dock Shipbuilders was the top gainer, rising 10.86% at ₹2683.07 apiece ahead of the record date for its dividend for the financial year 2024-25.

Sona BLW Precision Forgings (7.07%), Bharat Forge (5.67%), IREDA (5.23%), Supreme Industries (5.18%), Prestige Estates Projects (5.04%) and BSE Limited (4.94%) were the other top gainers on the index.

Shares of PSU IREDA surged ahead of its fourth quarter result 2024-25 fiscal year announcement.

Bharat Dynamics, Aurobindo Pharma, Policy Bazaar, Solar Industries, LIC Housing Finance, MRF, Pheonix Mills, SAIL and Hindustan Zinc were the other major contributors on the index, rising as much as 4.86%.

Data Patterns (India) was the top gainer on the Nifty Smallcap index, jumping 12.46% to ₹1,891.60 per share.

KEC International (8.66%), Kaynes Technology India (8.56%), HFCL Limited (7.95%), BLS International Services (7.76%), Anant Raj (7.12%) and GRSE (6.43%) were the other top gainers on the Nifty Smallcap 100 index.

Meanwhile, Aster DM, Gujarat State Petronet, Bata India, Atul Limited and Manappuram Finance were the only losers, declining as much as 1.55%.