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!

by 5paisa Research Team Last Updated: May 19, 2023 - 12:59 pm 766 Views
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Here’s a list of the top 5 gainers and losers this week in the large-cap space.

Indian shares gained on the back of strong corporate earnings and anticipation of better US markets. However, the situation in the US banking sector is not favourable. Silicon Valley Bank, a prominent lender in the tech startup world, collapsed due to a bank run by depositors. This triggered a contagion effect, leading to the closure of other banks such as Signature Bank and First Republic Bank due to tightening monetary policies. In contrast, Indian banks have delivered impressive results for Q4FY23 and the fiscal year ending on March 31, 2023. Banks like SBI, HDFC, and BOB have reported excellent performance. SBI became the first Indian bank to exceed Rs 50,000 crore in annual profit.

Despite facing challenges like financial sector turmoil, inflationary pressures, the Russia-Ukraine war, and the ongoing impact of the Covid-19 pandemic, India is projected to be the world's fastest-growing economy, according to the International Monetary Fund (IMF). The IMF's latest World Economic Outlook report forecasts a growth rate of 5.9% for the Indian economy in the current fiscal year. However, the IMF cautions that any disruption in the financial system could negatively impact global growth.

The domestic market remained mostly unchanged, experiencing fluctuations between gains and losses as investors hesitated to commit to a specific direction due to uncertainties in the US market. Internationally, investors exercised caution ahead of US inflation data and a meeting among US political leaders to address fiscal issues. Oil prices declined slightly as industry data unexpectedly showed a surge in US crude stock, suggesting a possible decline in demand.

When looking at the Indian stock market, the S&P BSE Sensex, the frontline index, declined by 0.96% in the last five trading sessions, from 62,027.90 on May 12 to 61,431.74 on May 18. Whereas the Nifty50 went from 18,314.80 on May 12 to 18,129.95 on May 18.

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 12 and May 18. 

Top 5 Gainers Return (%)

Company Name   

Returns (%)  

Astral Ltd. 

7.17 

Max Healthcare Institute Ltd. 

6.94 

DLF Ltd. 

5.59 

IDBI Bank Ltd. 

5.22 

Hero MotoCorp Ltd. 

4.93 

  Top 5 Losers Return (%) 

Company Name   

Returns (%)  

Adani Total Gas Ltd. 

-18.54 

Adani Transmission Ltd. 

-15.1 

Jindal Steel & Power Ltd. 

-8.75 

Avenue Supermarts Ltd. 

-8.47 

Bajaj Holdings & Investment Ltd. 

-7.75 

 

Astral Ltd: Astral Ltd gained 7.17% in the last 5 trading sessions. On a consolidated basis, the company has reported a rise of 43.10% in its net profit at Rs 206.2 crore for the fourth quarter that ended March 31, 2023, as compared to Rs 144.1 crore for the same quarter in the previous year. The total income of the company increased by 7.52% at Rs 1,512.8 crore for Q4FY23 as compared to Rs 1,407 crore for the corresponding quarter previous year.

Max Healthcare Institute Ltd: Max Healthcare gained 6.94% in the last 5 trading sessions and had met invvestors expections. On a consolidated basis, the company has reported a rise of 102.77% in its net profit at Rs 250.92 crore for the fourth quarter that ended March 31, 2023, as compared to Rs 123.73 crore for the same quarter in the previous year. The total income of the company increased by 30.22% at Rs 1254.73 crore for Q4FY23 as compared to Rs 963.51 crore for the corresponding quarter previous year.

Adani Total Gas Ltd: The stock plunged 18.54% in the last 5 trading sessions. The stock has been under pressure this year so far, especially after the Adani-Hindenburg saga. It is quoting at its lowest level since March 2021. Following the conclusion of business on May 31, 2023, Adani Total Gas will be removed from the MSCI India index. The choice was made by the global index as part of its semi-annual comprehensive index review. On a consolidated basis, the company has reported a marginal rise of 7.28% in its net profit at Rs 546.49 crore for the fourth quarter that ended March 31, 2023, as compared to Rs 509.40 crore for the same quarter in the previous year. 
 

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