Weekly movers: Hits and misses in the large-cap space during the week!

Weekly movers: Hits and misses in the large-cap space during the week!

Indian Market
by 5paisa Research Team Last Updated: 2022-12-19T10:30:01+05:30

Here’s a list of the top 5 gainers and losers this week in the large-cap space.

Countries across the globe continue to fight the same battle, which is taming the inflation monster. While this situation has been persisting for quite some time now, all eyes are set on the emergence of a new problem - Recession. The central banks are carefully treading on the tightrope of curbing inflation whilst not hurting their economic growth. Much to their dismay, it seems like countries can have only one of the two.

Yesterday, on 15 December, the US Fed increased its benchmark interest rates by 0.50%. With this hike, the interest rates now stand at a 15-year high. Further, the US Fed projected at least an additional 75 basis points of increases in borrowing costs by the end of 2023, as well as an increase in unemployment and a near halting of economic growth.

In a similar move, the Bank of England hiked its benchmark interest rate by 0.5% to a 14-year high of 3.5%. The country reported a decline of 0.3% in GDP between August and October.

Likewise, the Reserve Bank of India announced a rate hike of 0.35%. The persistent rate hikes might hurt demand. For instance, India’s industrial production contracted by 4% in October, signifying a 26-month low. Apparently, the slowdown in exports along with weak consumption demand is to be blamed.

Looking at the silver lining, the rate hikes are bringing the inflation levels down. To illustrate, India’s Wholesale Price Index (WPI), which gauges wholesale inflation, eased to a 21-month low of 5.85% in November. This came on the back of a fall in prices of food articles, basic metals, textiles, chemicals & chemical products and paper & paper products. Even retail inflation, measured by Consumer Price Index (CPI) eased to an 11-month low of 5.88%.

Coming to Indian equity markets, in the last 5 trading sessions, the frontline index S&P BSE Sensex declined by 0.62%, going from the level of 62,181.67 on 09 December to 61,799.03 on 15 December. Similarly, the NIFTY declined by 0.44%, going from 18,496.6 on 09 December to 18,414.9 on 15 December.

On the sectoral front, similar to last week, banking stocks have exhibited strong performance. This could be linked to RBI’s announcement of an upward revision in the Repo Rate on 06 December, following which, many banks announced a revision in their interest rates.

Let us have a look at the top gainers and losers in the large-cap space during the last 5 trading sessions (between 09 December and 15 December).

Top 5 Gainers 

Return (%) 

UCO Bank 

50.64 

Indian Overseas Bank 

34.69 

General Insurance Corporation of India 

24.65 

Central Bank Of India 

19.21 

Yes Bank Ltd. 

13.96 

 

Top 5 Losers 

Return (%) 

Tube Investments of India Ltd. 

-5.91 

Cummins India Ltd. 

-5 

Pidilite Industries Ltd. 

-4.51 

Hindustan Aeronautics Ltd. 

-4.16 

Titan Company Ltd. 

-3.52 

 

 

UCO Bank 

The shares of UCO Bank were buzzing on the bourses this week. During the last 5 trading sessions, the shares of UCO Bank have rallied by a whopping 50.64%. In today’s session, the company made a new 52-week high of Rs 38.15. Looking at the recent announcements made by the bank, Acuite Rating and Research Limited has upgraded its rating on UCO Bank's BASEL III Tier II Bond to AA/Stable from AA-/Positive. The revision in rating takes into consideration noticeable and sustained improvement in the financial performance and asset quality. Apart from the credit rating announcement, the bank has not made any significant announcements of late.

Indian Overseas Bank 

The shares of Indian Overseas Bank have rallied by over 30% in the last 5 trading sessions. On 07 December 2022, the bank announced a revision in Marginal Cost of Funds (MCLR) and Repo Linked Lending Rate (RLLR) with effect from 10.12.2022. The revised RBLR stands at 9.10%. On 12 December, the bank made an intimation regarding timely payment of interest to the bond holders of Basel III Tier II Bonds Series II. On 07 December, the bank announced a change in its Repo Based Lending Rate (RBLR) to 9.10% with effect from 07.12.2022.

General Insurance Corporation of India

The shares of General Insurance Corporation of India surged by nearly 25% in the last 5 trading sessions. It should be noted that General Insurance Corporation of India has not made any significant announcements of late. Hence, the rally in the share price could be driven by the market forces.


Start Investing in 5 mins*

Get Benefits worth 2100* | Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial. Also, The

Open Free Demat Account

& get benefits worth 2100*

Resend OTP
Please Enter OTP
  • Have Promo code?
  • Use code ACT2100
Enter Promo code
Account belongs to

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number