Mid-cap stocks soar in falling market

The Sensex has declined almost 850 points in the last four days but about 60 mid-cap stocks from the BSE 500 index have managed to stay resilient.

Stocks such as HMT, Jet Airways, Zydus Wellness, Pipavav Defence, NCC, BEML, Page Industries and MRF have gained between 5% and 40%, although for different reasons. "The Indian stock market fell not because of domestic reasons but due to global weakness. Many investors, waiting for an opportunity to enter the market, bought some quality mid-cap stocks at every dip in the falling market," said Devang Mehta, head of equity, Anand Rathi Financial Services —Rajesh Mascarenhas