The Nifty Smallcap 100 index on Wednesday extended its gains on fourth day in a row, hitting a record 16,822.60 points, surging over 2.4 per cent since Friday
On Wednesday, eight of the companies listed in the Nifty Smallcap 100 basket struck their 52-week highs, including Data Patterns (India) recording a 10 per cent hike. It was followed by Tanla Platforms and Great Eastern Shipping Company at 5 per cent rise.
On Tuesday, the index had surged 1.23 per cent to reach the previous all-time high of 16,702 points.
The key reasons for the ongoing bull run are positive trends in the global markets and tumbling crude oil rates.
The thawing of Israel-Iran conflict has also prompted investors to pull out their money from safe havens like gold and invest them in riskier assets including small cap equities.
