Top stocks relatively outperforming the Nifty 50 benchmark

Markets are moving southwards with Nifty 50’s weekly returns turning negative. In this article, we present to you the stocks that have relatively outperformed the benchmark index weekly.

On May 9, 2022, Nifty 50 experienced a gap-down opening but inched up through the day filling the gap-down made. However, selling pressure on highs is still retained. Moreover, it is reassuring that the Nifty 50 ended much above its intraday low.

Amid inflation inching up, the surge in interest rates and the ongoing severe lockdowns in Shanghai to control the spread of Covid-19, most global indices declined on Monday. As China was hit by strict Covid-19 restrictions and weaker consumer spending in Europe and the US, its export growth decelerated significantly in April.

Having said that, the chief concerns over the equity markets do not seem to end soon as Foreign Portfolio Investors (FPI) continues its persistent selling. On Wednesday, the US Consumer Price Index (CPI) number for April would be released. This number is expected to be around 8.2% and anything lower than this would lead to some short-term reversal in the markets. In the near term, 16,180 to 16,300 levels would act as a solid support, while the levels of 16,600 to 16,650 offer a good resistance.

Here is the list of top stocks that relatively performed well against Nifty 50 on a weekly basis.