Mid, small-cap indices underperform benchmarks; Adani Transmission dips 4%

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Bucking the broader market trend, the midcap and smallcap indices were trading weak in the late morning deals on Thursday. At 11:34 am, the S&P MidCap index traded 65 points or 0.44 per cent higher at 14,928, with TI Financial Holdings being the top gainer (up 4 per cent) and (down 4 per cent) the top loser.

On similar lines, the S&P SmallCap index was trading at 14,345, up 23 points or 0.17 per cent. Hotel Leela was leading the performance chart as stock zoomed 20 per cent to Rs 18 apiece. PG Electroplast (up 15 per cent), Infibeam (up 10 per cent) and Cigniti Tech (up 6 per cent) were next on the list. Repco Home (down 8 per cent) bled the most on the index.

On the other hand, benchmark index S&P was trading over 1 per cent higher at 36,079. Reliance Industries (RIL), HDFC duos and majors HUL and ITC contributed the most to the index's gains.

The broader index of National Stock Exchange (NSE) reclaimed the crucial 10,800 level to trade at 10,827, up nearly 1 per cent. The domestic market has been on a rising spree since last three sessions on the back of tumble in crude oil prices and sharp recovery in rupee. Fed Chairman Jerome Powell's speech on Wednesday that rate hike will be gradual in the coming time also boosted investors' sentiment on Thursday.

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