India’s SmallCaps Climb to Record as Nifty Rises Before Expiry
- Nifty futures roll costs increases as traders raise hedges
- Foreigners turn sellers of local shares first time in 30 days
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India’s mid- and small-cap stocks reclaimed an all-time high and the benchmark gauges eked out gains in volatile trading before the expiry of the derivatives contracts Thursday.
Aurobindo Pharma Ltd. jumped the most in 18 months month after reporting a 24 percent jump in first-quarter profit. Its rivals, Torrent Pharmaceuticals Ltd., Divi’s Laboratories Ltd. and Wockhardt Ltd. were the among the best performers on an index of 82 medium-sized companies. Maruti Suzuki India Ltd. rallied the most in three weeks after CLSA Asia-Pacific Markets raised it to buy from outperform.