These Group A small-cap stocks are gaining on Wednesday afternoon!

Mahanagar Telephone Nigam Ltd, Gujarat Gas Ltd and Elecon Engineering Co Ltd are today’s mid-day movers.

The Indian equity market extended its losses as oil prices saw a surge. There has been a massive selling of Indian equities by foreign institutional investors this year. The US interest rate hike is one of the main reasons for this. Investors are shifting towards developed countries instead of emerging markets. At 12:45 pm, the S&P BSE Sensex is at 53,904.77 witnessing a 0.85 per cent decline. 

Despite the pessimistic sentiments the following stocks are gaining.  

Mahanagar Telephone Nigam Ltd, which is a part of the S&P BSE Small-cap index, is a telecom provider. At 12:45 pm, the stock has jumped 6.91 per cent and the scrip is currently trading at Rs 23.20.  

Gujarat Gas Ltd, which is a part of the S&P BSE 200, is engaged in the business of natural gas in India. The business of natural gas involves the distribution of gas from sources of supply to centres of demand and to end customers. At 12:45 pm, the stock rallied 6 per cent and the scrip is currently trading at Rs 537.  

Elecon Engineering Co. Ltd, which is a part of the S&P BSE Small-cap index, is involved in the design and manufacturing of Material Handling Equipment and Industrial Gears and also provides construction and commissioning solutions for its products. At 12:45 pm, the stock surged 3.31 per cent and the scrip is currently trading at Rs 172.20.