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Market Now: Midcaps in sync with Sensex; Mphasis leads pack of midcap gainers

NEW DELHI: The BSE Midcap index was in sync with benchmark Sensex in Friday's trade.

Around 11:10 am, the midcap index was 0.40 per cent up at 16,344, while Sensex was 0.35 per cent up at 35,368. The Nifty50 index was 0.37 per cent up at 10,756.

Mphasis (up 5.74 per cent) was the top gainer among the midcap stocks, buoyed by decent March quarter earnings.

IT services firm Mphasis reported on Thursday 29.6 per cent growth in net profit to Rs 250.8 crore for the January-March quarter.

Berger Paints (India) (up 4.15 per cent), Jindal Steel & Power (up 3.09 per cent), Container Corporation of India (up 2.99 per cent), Larsen & Toubro Infotech (up 2.62 per cent) and Tata Communications (up 2.53 per cent) were also among the top gainers in the midcap index.

On the other hand, Vakrangee (down 4.93 per cent) extended its losses.

Ajanta Pharma (down 3.68 per cent), Union Bank of India (down 2.62 per cent), Alkem Laboratories (down 2.41 per cent) and Central Bank of India (down 2.30 per cent) too were among the losers among the midcap stocks.

Buying in select metal, oil, bank, IT and financial stocks ahead of industrial production and inflation data, to be released after market hours, lift equity benchmarks.

In the Sensex index, 18 stocks were advancing, while 13 were declining.

Asian Paints, Kotak Mahindra Bank and ICICI Bank were leading the pack of Sensex gainers.

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