NEW DELHI: The BSE Midcap index was trading up during Tuesday's trade, outperforming benchmark Sensex.Around 11:25 am, the midcap index was 0.27 per cent up at 16162, while the Sensex was 0.14 per cent up at 35,213.
The Nifty index was 0.13 per cent up at 10,702 around the same time.Shares of Housing and Urban Development Corporation (up 4.81 per cent) were the top gainers in the midcap index.Shares of the state-owned company surged after it said on Monday that it had recovered Rs 317 crore in an old loan default case as against the dues of about Rs 470 crore at the end of the last fiscal.Reliance Communications (up 4.58 per cent) also saw decent traction.
The NCLAT will hear today the plea of the company which has challenged NCLT's decision to start insolvency proceedings against it on a petition by Swedish telecom equipment major Ericsson.Indian Hotels Company (up 3.58 per cent), Adani Power (up 3.20 per cent), Central Bank of India (up 3.02 per cent) and Indraprastha Gas (up 3.01 per cent) were the other significant gainers in the midcap index.On the contrary, there seems to be no respite for Vakrangee (down 5 per cent) which extended its fall on Tuesday.NLC India (down 4.72 per cent), Bank of India (down 4.03 per cent), Divi's Laboratories (down 1.90 per cent), Union Bank of India (down 1.81 per cent) and Adani Enterprises (down 1.73 per cent) were also suffering losses.Market was cautious due to profit-taking amid weak Asian cues as uncertainty over the US-North Korea summit and a political crisis in Italy remained a concern.In the Sensex index, 18 stocks were in the green, while 13 in the red.
Tata Steel, Larsen Toubro and Maruti were leading among Sensex gainers.