Shares of smallcap companies were on a roll at the bourses on Tuesday with the S&P BSE Smallcap index hitting 31-month high after domestic mutual funds and insurance company acquired select companies' share from open market. SORIL Infra Resources, Paisalo Digital, Fineotex Chemical, Rupa & Company, Borosil Renewables, Nava Bharat Ventures and Hindustan Foods were up between 10 per cent and 20 per cent on the BSE in intra-day trade. The S&P BSE Smallcap index hit an intra-day high of 18,089, its highest level since May 10, 2018. The index surpassed its previous high of 17,967, touched on December 17, 2020. Among individual stocks, Paisalo Digital hit a fresh record high of Rs 745, up 19 per cent on the BSE. In the past four trading days, the stock of the finance company rallied 53 per cent after SBI Life Insurance Company acquired 9 per cent stake in the finance company via open market.