This Article is From May 26, 2014

Midcap Stocks Slump on Profit-Taking After Heavy Outperformance

Midcap Stocks Slump on Profit-Taking After Heavy Outperformance

NSE Midcap index is down 1.3 per cent on profit-taking, after earlier surging as much as 2.1 per cent to hit a record high at 10,673.75.

Heavy outperformance since mid-March and investors' inclination for reducing perceived volatility in portfolios is leading to paring of positions in midcap stocks, dealers say.

Ramco Cements Ltd slumps 7.8 per cent, while Oriental Bank of Commerce declines 5.8 per cent, Jain Irrigation Systems is down 4.2 per cent.

Copyright: Thomson Reuters 2014