BSE Midcap, BSE 200, BSE 500, other broader indices hit 52-week peaks after Sensex soars to life-time high

As the Sensex scaled an all-time high on June 21, a string of broader indices also scaled record levels owing to positive momentum in the overall market. The BSE midcap, BSE Smallcap, Sensex Next 50, Smallcap Select and Allcap indices were among the gauges that hit their highest-ever intraday levels.

The 30-scrip blue-chip index Sensex added 260.6 points or 0.4 per cent at the strongest level of the day to register an all-time high of 63,588.3, surpassing its last peak of 63,583.1 (December 1, 2022), amid a broad-based upmove on Dalal Sstreet. ALSO READ: Top investment themes on Dalal Street

The S&P BSE Midcap, S&P BSE Midcap Select, S&P BSE 150 Midcap and S&P BSE 500 Midsmallcap indices rose around one per cent each to scale 52-week highs. The BSE 500 — the broadest index on the bourse — gained 0.5 per cent to reach the milestone. 

Among the indices dedicated to the smallcap segment, the S&P BSE Smallcap gained 0.8 per cent to log its 52-week high. 

Here's a list of BSE indices that hit the peaks on June 21: 

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What's driving the gains in the broader market?

"The enthusiasm in the broader market is supported by the fact that more than 40 per cent of NSE 500 stocks are yet to break their respective peaks since the Nifty last saw its record peak (December 2022)," Anand James, Chief Market Strategist at Geojit Financial Services, told Zeebiz.com. 

The Nifty 50 benchmark — from the NSE universe — climbed up as much as 59.2 points or 0.3 per cent to 18,875.9 to come within 12 points of its all-time high. 

The surge in the Nifty and the Sensex has been driven by the HDFC twins, which were quite sluggish in the run-up so far, James pointed out. "VIX is subdued at 11, suggesting that the expectation of volatility is quite low despite the Nifty and the Nifty Bank being near record peaks," he said.  

NSE's India VIX index — also known in market parlance as the fear gauge — moved within a range of 10.8-11.4 on Wednesday. 

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