Midcap and smallcap indices zoom over 2%; Tata Elxsi, Suzlon Energy, KFin Tech, Anant Raj among top gainers

The broader market on Monday, April 21, zoomed over 2% during the intraday trade as the main equity benchmark indices soared higher amid positive banking sector earnings optimism. The Nifty Bank also hit an all-time high on Monday.

During the intraday period, NIFTY Midcap 100 was trading 2.36% higher at the 53,900.70 level, while NIFTY Smallcap 100 was at 16,728.30, gaining 2.01%.

Both the midcap and smallcap indices were outperforming the equity benchmark indices during the intraday period.

In the last month, the Nifty Midcap 100 index has gained over 3.94%, and the Nifty Smallcap 100 gauge has increased 3.28% despite various tariff tensions.

After opening at the 52,935.05 level, the NIFTY Midcap 100 index touched a high of the 53,933.30 level and a low of 52,840 during the intraday period on Monday.

On the index, Tata Elxsi was the top contributing scrip, jumping 9.42%. Shares of the global design and technology services company, which is a part of the Tata Group, rose after the March quarter results announcement last week (April 17).

Suzlon Energy, Coforge, Vodafone Idea, Mphasis and AU Small Finance Bank were the other top gainers on the index, surging as much as 6.63%.

Shares of HDFC AMC, IDFC First Bank, L&T Finance, BSE Limited and Bandhan Bank were also performing well, increasing as much as 5.78%.

Meanwhile, Marico, Max Healthcare, NTPC Green Energy, Colgate Palmolive, SRF and Patanjali were the only losing stocks on the index, declining as much as 2.08%.

After opening at the 16,497.35 level on Monday, the NIFTY Smallcap 100 index touched a high of the 16,748.55 level and a low of the 16,442.35 level during the intraday period.

Kfin Technologies was the biggest contributing stock on the small-cap index, soaring 5.87%. Last week, the company had entered into an agreement with Singapore-based Ascent Fund Services Pte. Ltd to acquire a 51% stake for $34.7 million, with a path to 100% ownership over the next five years.

Anant Raj was another top contributor on the gauge, gaining 5.67% ahead of its January-March quarter earnings announcement.

Angel One, Atul Limited, Aarti Industries, Zensar Technologies and BLS International Services were the other top gainers, surging as much as 5.65%.

Rites, Hindustan Copper, Cyient, Devyani International, Reliance Power, CDSL and CreditAccess Grameen also advanced on the sector, rising 4.44%.

However, shares of Aadhar Housing Finance, Ramkrishna Forgings, Narayana Hrudayalaya, Zen Technologies and Bata India were among the top losing stocks on the index, falling as much as 2.66%.