Tier II, III stocks outshine bluechips

MUMBAI: Secondline stocks were in demand on Wednesday amid lacklustre trade, outperforming bluechips.

At 1:30 pm, the BSE Midcap Index rose 1.62% with Redington India, up 15%, topping the list of gainers. Dredging Corporation (10.75%), Bajaj Hindusthan (10.67%), Patel Engineering (8.72%), Spice Telecom (8.52%) and Punjab Tractors (8.25%) also posted smart gains.

In the smallcap space, gains in Himachal Futuristic Communications (19.93%), Teledata Informatics (13.85%), Essel Propack (13.9%), ETC Network (12.54%) and Lumax Industries (8.76%) drove the BSE Smallcap Index up 1.77%.

Meanwhile, Bombay Stock Exchange's Sensex was up 0.14% or 13.85% at 9,730.01 while National Stock Exchange's Nifty was down 0.37% or 11.05 points at 2968.45.