Culture & Entertainment · India Bureau
Indian midcap stocks surge to record highs on market optimism
A clutch of BSE 500-listed companies scaled all-time highs on Wednesday, with gains reaching up to 8 percent as investor sentiment strengthened across select segments. The rally encompassed firms spanning solar energy, precision manufacturing, cables, e-commerce and hospitality sectors.
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ACME Solar, Balrampur Chini Mills, Netweb Technologies and NAM India led the gainers, each climbing as much as 8 percent to touch record peaks in intraday trading. The broad-based advance reflected renewed investor appetite for quality midcap names across diverse industry verticals.
Sona BLW Precision Forgings, a key auto-component manufacturer, also scaled fresh all-time highs on the BSE 500 index. R R Kabel, the wire and cable manufacturer, similarly touched record territory amid steady demand outlook for power infrastructure projects.
Welspun Corp, the pipes and specialty products maker, joined the rally, as did e-commerce platform Lenskart Solutions, both hitting respective all-time highs. Leela Palaces Hotels, the luxury hospitality chain, also scaled new peaks, reflecting optimism in the post-pandemic travel recovery.
The synchronized surge across multiple sectors underscored broad market strength and suggested investors were rotating into quality growth stories beyond large-cap blue chips. Analysts attributed the move to improving corporate earnings visibility and easing macroeconomic concerns among domestic institutional buyers.