Small, midcap indices jump up to 3% on US tariff reprieve: Here are the top gainers

The shares of smallcap and midcap companies recorded strong gains on April 11 as markets found some relief after US President Donald Trump announced a 90-day pause in his reciprocal tariffs. The Nifty Smallcap index was up nearly 3 percent to stand at 15,696, while the Nifty Midcap index closed 1.85 percent higher at 50,502.

US President Donald Trump had announced harsh reciprocal tariffs on April 2, sending global markets sharply lower. Indian stock markets also crashed, with the smallcap and midcap indices recording significant losses as well. Later on April 9, Trump announced a 90-day pause to his tariffs on several nations barring China. Global markets positively reacted to the news, with Indian markets being no exception. Sensex gained over 1,300 points, while Nifty jumped nearly 2 percent. The sharp recovery in the benchmark indices also spilled over to the broader markets.

Welspun Living shares were the top gainer on the smallcap index, rising over 9 percent to close at Rs 124 apiece. Aarti Industries and PG Electroplast shares followed, rising over 8 percent each. Other notable smallcap stocks which recorded massive gains include Inox Wind (up nearly 8 percent), PVR Inox (up nearly 5 percent), Laurus Labs (up over 7 percent), Kaynes Tech (up over 5 percent), MCX (up over 4 percent), Nuvama (up nearly 2 percent), PNB Housing Finance (up nearly 6percent), FirstCry (up over 3 percent), Titagarh Rail (up nearly 2 percent), Angel One (up over 1 percent), IRCON (up nearly 2 percent) and others.On the midcap index, PI Industries shares were the top gainer. The shares of the company surged nearly 10 percent to close at Rs 3,619 apiece. Other notable midcap stocks which strongly gained include Dixon Tech (up nearly 7 percent), Bharti Hexacom (up nearly 6 percent), Oberoi Realty (up nearly 4 percent), Policy Bazaar (up nearly 4 percent), Cochin Shipyard (up nearly 3 percent), Paytm (up nearly 3 percent), Motilal Oswal Financial Services (up nearly 6 percent), SAIL (up nearly 3 percent), Suzlon Energy (up over 4 percent), IRCTC (up nearly 2 percent) and more.