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Stock market update: BSE Midcap index jumps over 1%; M&M Financial Services top gainer

NEW DELHI: The BSE Midcap index was trading 1.16 per cent up..

NEW DELHI: The BSE Midcap index was trading 1.16 per cent up at 16,089 around 11:35 am on Monday.

The BSE Sensex was 0.53 per cent up at 35,110, while Nifty was 0.63 per cent up at 10,672 around that time.

Shares of Mahindra & Mahindra Financial Services (up 5.06 per cent) was the top gainer in the midcap index, followed by Indian Hotels Company (up 4.78 per cent) and Bharat Electronics (up 4.43 per cent).

Shares of Reliance Communications (up 4.21 per cent), NLC India (up 3.94 per cent), LIC Housing Finance (up 3.56 per cent), Union Bank of India (up 3.48 per cent) and Shriram Transport Finance Company (up 3.41 per cent) also found themselves among top gainers.

On the other hand, Mphasis (down 6.44 per cent) was the top losers in the index.

Vakrangee (down 4.88 per cent), Divi's Laboratories (down 3.03 per cent), Larsen & Toubro Infotech (down 2.96 per cent), NBCC (India) (down 2.82 per cent), Crompton Greaves Consumer Electricals (down 2.50 per cent) and United Breweries (down 2.13 per cent) tanked over 2 per cent in the midcap index.

In the Sensex index, 22 stocks were up, while 9 were down.

Sun Pharma, surging over 7 per cent, was leading the band of Sensex gainers.

The stock got traction on better-than-expected March quarter earnings.

The company on Friday reported 6.93 per cent rise in consolidated profit at Rs 1,375.62 crore for March quarter, which was above ET NOW poll of Rs 895 crore.

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