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Weekly movers: Hits and misses in the large-cap space during the week!
Last Updated: 26th October 2023 - 01:16 pm
Here’s a list of the top 5 gainers and losers this week in the large-cap space.
According to an economic survey by the news agency Reuters, despite having the fastest-growing economy in the last fiscal year, India's economy faces significant dangers this year and will slow down significantly.
India's economic activity is expected to decline and witness a lower growth print in FY24 on the back of buoyancy in the services sector, moderation in inflation and the consistency in public sector capital expenditure, stated a report by Acuité Ratings on Thursday.
According to the report, the growth print has been on a decline with the gradual elimination of the base factor along with the weakness in the export sector and lack of strength in rural demand.
While the International Monetary Fund (IMF) predicted growth would be 5.9% in FY24, the Reserve Bank of India (RBI) forecasted growth at 6.5%.
The RBI's rate increases since May of last year are also probably going to affect this year's GDP. After raising interest rates by 250 basis points, the central bank is now anticipated to continue its prolonged pause at least through the end of the year.
When looking at the Indian stock markets, the S&P BSE Sensex, the frontline index, declined by 0.46% in the last four trading sessions, dropping from 59,910.75 on April 17th to 59632.35 on April 20th. In contrast, the Nifty50 went from 17,706.85 on April 17th to 17,624.45 on April 20th.
Let's take a closer look at the top gainers and losers in the large-cap space during the last five trading sessions, which took place between April 17th and April 20th.
Top 5 Gainers Return (%)
Company Name |
Returns (%) |
7.55 |
|
7.39 |
|
6.96 |
|
6.67 |
|
6.49 |
|
|
|
Top 5 Losers Return (%)
Company Name |
Returns (%) |
-11.86 |
|
-10.6 |
|
-6.02 |
|
-5.94 |
|
-5.53 |
Yes Bank Ltd: Shares of Yes Bank Ltd gained 7.55% in the last 4 trading sessions. Shareholders of Yes Bank are anxiously awaiting its Q4FY23 results, which are scheduled to be released tomorrow, on April 22, 2023. While Yes Bank owners anticipate an upward trend following the release of the bank's results, new investors are searching for a bottom-fishing chance if the share price of Yes Bank drops significantly on the day before the release of the results.
Bajaj Holding & Investment Ltd: Shares of Bajaj Holdings hit 7.39% in the last 4 trading sessions. The company has reported to Sebi about their significant increase in volume across the exchange. Hence, this upward movement in share price could be driven purely by market forces.
Infosys Ltd: The share of Infosys Ltd plunged by 11.86% in the last 4 trading sessions. However, company has reported a rise of 14.04% in its net profit at Rs 5904 crore for the quarter under review as compared to Rs 5177 crore for the same quarter in the previous year. The fall in the price is because of lower-than-expected results of Infosys. For FY2024, Infosys has given revenue guidance of 4-7 %, which is lower than the 16 % growth in FY23.
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