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.

Indian banking system is better positioned to tackle the rising interest rates and the impact of the ongoing US banking turmoil on Indian lending conditions is expected to be limited. Silicon Valley Bank, one of the most prominent lenders in the tech startup world, collapsed on March 10 due to a run on the bank by depositors. This led to a contagion effect and the subsequent shutting down of other banks, such as Signature Bank and First Republic Bank, due to monetary policy tightening.

Against that backdrop, India looks better placed to weather emerging global financial risks. The US Fed has hiked its policy rate by 500 basis points (bps), the fastest pace of hikes since 1980, to 5-5.25% in its fight against above-tolerable inflation. This sharp rise has already tested segments such as the tech sector and small regional banks in the US.

India's external funding requirements are expected to reduce this fiscal - 2023-24, with India's key external liability - current account deficit (CAD) likely to be pared this fiscal on lower crude oil prices. The Reserve Bank of India's adequate forex reserves and India's good growth prospects should cushion the impact of a global spillover on overall macros.  

When looking at the Indian stock market, the S&P BSE Sensex, the frontline index, increased by 1.39% in the last five trading sessions, surging from 61,054.29 on May 5th to 61,904.52 on May 11th. In contrast, the Nifty50 went from 18,069 on May 5 to 18,297 on May 11.   

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 May 5 and May 11. 

Top 5 Gainers Return (%)