Weekly movers: Hits and misses in the large-cap space during the week!
Here’s a list of the top 5 gainers and losers this week in the large-cap space.
On Thursday, the country’s GDP numbers for the third quarter came out. As per the data of the Ministry of Statistics and Programme Implementation, India’s gross domestic product (GDP) for the October-December quarter moderated to 4.4%. As per the estimates, the Indian economy is expected to grow at 7% in FY23. Further, the economic growth for 2021-22 has been revised upwards to 9.1% from 8.7% earlier. The growth was impacted by aggressive rate hikes by the Reserve Bank of India (RBI) in order to bring down the high inflation levels in the country.
Looking at the stock market performance, in the last 5 trading sessions, the frontline index S&P BSE Sensex plunged by 0.93%, going from the level of 59,463.93 on 24 February to 58,909.35 on 02 March. Similarly, the NIFTY declined by 0.82%, going from 17,465.8 on 24 February to 17,321.9 on 02 March.
Let us have a look at the top gainers and losers in the large-cap space during the last 5 trading sessions (between 24 February and 02 March).
|
Top 5 Gainers |
Return (%) |
|
39.6 |
|
|
22.21 |
|
|
11.49 |
|
|
10.47 |
|
|
9.96 |
|
Top 5 Losers |
Return (%) |
|
-7.94 |
|
|
-6.99 |
|
|
-6.62 |
|
|
-5.11 |
|
|
-5.09 |
Macrotech Developers Ltd
The shares of Macrotech Developers Ltd rallied nearly 40% in the last 5 trading sessions. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by market forces.
Adani Enterprises Ltd
The shares of Adani Enterprises Ltd surged over 20% on the bourses in the last 1 week. On 1st March 2023, some media sources reported that SEBI, in its investigation of the Adani Group (pertaining to the Hindenburg allegations) has not found any irregularities yet. While there was no official statement from SEBI, this news may have provided some respite to the plunging share prices of Adani Group.
Apart from this, yesterday, the Adani Portfolio companies completed Rs 15,446 crore secondary equity transaction with GQG Partners.
Adani Ports and Special Economic Zone Ltd
The shares of Adani Ports and Special Economic Zone Ltd rallied over 10% in the last 5 trading sessions. The rise in share price could be attributed to the media reports stating that SEBI has not found any irregularities in its investigation against the Adani Group following the Hindenburg accusations.
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