The Nifty Midcap 100 index closed at a record high on Tuesday, ending the session up 0.54 per cent at 62,299 after touching an intraday peak of 62,365 — its highest level ever. The index gained for a third consecutive session, defying selling pressure in frontline indices.
The benchmark Sensex fell 479.26 points, or 0.63 per cent, to close at 76,009.70, while the Nifty50 dropped 118 points, or 0.49 per cent, to 23,913.70. The Nifty Smallcap 100 also held its ground, rising 0.35 per cent for the day.
Midcap gainers lead the rally
Adani Total Gas was the top gainer in the Midcap 100, surging 8.17 per cent to ₹713. Exide Industries rose 6.04 per cent, while Info Edge (Naukri) gained 4.64 per cent to ₹982. KPIT Technologies added 4.41 per cent and JSW Energy climbed 3.75 per cent. Tata Communications rose 3.56 per cent to ₹2,005.
Stocks that dragged the index
On the losing side, CONCOR was the worst performer, tumbling 7.19 per cent to ₹475.25, followed by RVNL, which fell 4.53 per cent. Ashok Leyland, Jubilant FoodWorks, and Mankind Pharma also declined by 1.7–2 per cent.
Intraday volatility and late-session rebound
The index opened firmly, extended gains through the session, then pared them during a phase of profit-booking at higher levels before a late surge in the final hour pushed it to its record close.
Domestic liquidity drives market resilience
Analysts attributed the outperformance to sustained domestic liquidity. Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services, noted that resilience in broader markets despite global uncertainties reflects continued domestic participation.
Structural strength in midcap and smallcap space
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, noted that the ratio charts of both the Midcap and Smallcap indices relative to the Nifty continue to trend higher, confirming structural outperformance. The Midcap 100’s current price-to-earnings ratio stands at 29.94 and price-to-book at 4.88. The index is up 9.17 per cent over the past year and 143.68 per cent over five years.