Domestic equity market extended its gain to second consecutive session on Friday on healthy buying in sectors, barring IT and teck.

The midcaps and smallcaps performed better than the benchmark Sensex. Around 12:50 pm, the BSE Midcap index was trading 1.38 per cent up at 16,311 and BSE Smallcap was 1.23 per cent up at 16,645. The benchmark Sensex was 0.62 per cent up at 37,951 at that time.

hares of Mahindra & Mahindra Financial Services (up 6.37 per cent), Dalmia Bharat (up 5.42 per cent), Jindal Steel & Power (up 5.31 per cent), Oberoi Realty (up 4.60 per cent) and NBCC (India) (up 4.04 per cent) were among the top gainers in the midcap index.

Cummins India (2.55 per cent), Mphasis (1.28 per cent), Endurance Technologies (1.27 per cent), Alkem Laboratories (1.19 per cent) and Shriram City Union Finance (1.01 per cent) were among the top losers in the midcap index.

Shares of Monnet Ispat & Energy (up 57.04 per cent), Mawana Sugars (up 20 per cent), Avadh Sugar & Energy (up 19.99 per cent), Dalmia Bharat Sugar and Industries (up 19.98 per cent) and Uttam Sugar Mills (up 19.97 per cent) were among the top gainers in the smallcap index.

Among the losers in the smallcap index, IL&FS Transportation Networks (down 6.16 per cent), IL&FS Investment Managers (down 5.48 per cent), Ashoka Buildcon (down 5.46 per cent), RattanIndia Power (down 5.41 per cent) and Techno Electric & Engineering Company (down 5.17 per cent) led.

Equity market was in the positive terrain on healthy buying by investors as the industrial production grew at 6.6 per cent in July and retail inflation cooled to a 10-month low NSE.

Inflation based on wholesale prices eased to a four-month low of 4.53 per cent in August on softening of prices of food articles, especially vegetables.

Positive Asian cues and rupee’s improved health also influenced the sentiment.