Mid- and small-cap indices rise over 1%: Paytm, BSE, MRF, and Piramal among top gainers

The broader market on Wednesday continued with its northbound journey for the second consecutive day, outshining the main equity indices.

During the intraday period, Nifty Midcap 100 was trading 1.43% higher at 54,199.05 levels, while the Nifty Smallcap 100 index was seen at 16,361.15, advancing 1.02%.

Many smallcap and midcap stocks were soaring during the intraday period following their March quarter earnings updates.

In the last month, the Nifty Midcap 100 index has gained 11%, and the Nifty Smallcap 100 gauge has increased over 8.3% despite various tariff tensions.

The market sentiment on Wednesday, May 7, was majorly being driven by geopolitical developments between India and Pakistan. Investors, however, gained some confidence post-India and the UK’s deal signed on Tuesday.

After opening at the 52,755.40 level, the NIFTY Midcap 100 index touched a high of the 54,265.60 level and a low of 52,747.20 during the intraday period on Wednesday.

Paytm operator One 97 Communications was the most contributing stock on the midcap index, jumping 7% during the day’s trading. One97 Communications’ net loss narrowed to ₹540 crore in the January-March quarter from a loss of ₹550 crore in the same period last year.

Its revenue from operations declined 16% in the fourth quarter of the financial year 2024-25 to ₹1,911 crore as against ₹2,267 crore registered in the year-ago period.

Following Paytm, shares of BSE Limited were another top gainer on the index as Asia's oldest stock exchange surged as much as 9.64% to hit a record high of ₹6,847.50 apiece on the NSE. The company reported a robust set of numbers for the quarter ended March 31, 2025 (Q4 FY25).

SRF Limited (4.57%), Bharat Forge (4.41%), MRF Limited (3.92%), Aditya Birla Capital (3.79%) and APL Apollo Tubes (3.45%) were the other most rising stocks on the midcap index.

However, defence stocks like BDL (-5.88%), Mazagon Dock (-5.56%), and Cochin Shipyard (-2.26%) were underperforming on the gauge.

Midcap stock HUDCO was also trading lower after the firm announced its March quarter earnings. The state-run firm recorded a 3.93% growth in consolidated net profit to ₹727.74 crore in the final quarter of FY25. The company had posted a consolidated post-tax profit of ₹700.16 crore in Q4 FY24.

After opening at the 15,957.75 level on Wednesday, the NIFTY Smallcap 100 index touched a high of the 16,385.75 level and a low of the 15,950.95 level during the intraday period.

On the index, Welspun Living led the rally, soaring over 11%.

Piramal Enterprises was the other top gainer on the index, jumping 7% despite it reporting a 25% fall in consolidated profit in the March quarter to ₹102 crore. The company had reported a net profit of ₹137 crore in the year-ago period. Its consolidated profit for the entire FY25 was ₹485 crore as against a loss of ₹1,684 crore in the year-ago period.

IIFL Finance (6.58%), PG Electroplast (5.59%), Kfin Technologies (5.53%), Aarti Industries (5.44%) and KEC International (5.53%) were the other top gainers on the gauge.

Meanwhile, Radico Khaitan (-3.91%), Chambal Fertilisers & Chemicals (-2.75%), JBM Auto (-2.39%), and Godfrey Phillips India (-2.32%) were the top losing stocks on the index.

Small-cap defence stocks like Data Patterns and Garden Reach Shipbuilders & Engineers (GRSE) also remained under pressure, falling 2.31% and 2.20%, respectively.