Winning at Half-time
Business Today India|July 23, 2023
The BSE Midcap and Smallcap soared 14 per cent and 13 per cent, respectively, beating the benchmark Sensex in the first half of 2023
RAHUL OBEROI
Winning at Half-time

SECOND-RUNG STOCKS in the domestic equity market returned with a bang in the first half of 2023 after a lull in 2022. Consider this: While the BSE Midcap and Smallcap indices soared nearly 14 percent and 13 percent, respectively, on a year-to-date (YTD) basis till June 30, the benchmark BSE Sensex gained a relatively meagre 6 percent. The performance is even more impressive when compared with last year, when the BSE Smallcap index plunged 1.80 percent, while the BSE Midcap and Sensex gained 1.38 percent and 4.44 percent, respectively.

Buoyed by the current rally, the BSE Midcap, Smallcap, and Sensex also ended the first half (H1) at fresh record closing highs of 28,776.20, 32,602.14, and 64,718.56, respectively. Market watchers believe the recent outperformance in the broader markets will continue and factors such as formalisation and digitalisation of the economy, lower input costs, improved availability of credit, and expanding valuation multiples will support investor sentiment.

D-STREET STARS

Data showed that firms across sectors delivered in H1. With a jump of 66 percent YTD, Aurobindo Pharma was the top gainer in the mid-cap space, while One97 Communications (Paytm), PB Fintech, KPIT Technologies and Power Finance Corporation surged over 50 percent. In the large-cap space, ABB India jumped 65 percent YTD, followed by Cholamandalam Investment and Finance Company (up 58 percent), Tata Motors (up 53 percent), Hindustan Aeronautics (up 50 percent) and ITC (up 36 percent). However, heavyweights like Reliance Industries (up o.10 percent) and IT major Tata Consultancy Services (up 1.27 percent) saw almost no gains.

Esta historia es de la edición July 23, 2023 de Business Today India.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición July 23, 2023 de Business Today India.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE BUSINESS TODAY INDIAVer todo
"Inaction is worse than mistakes"
Business Today India

"Inaction is worse than mistakes"

What was the problem you were grappling with?

time-read
1 min  |
January 05, 2025
TEEING OFF WITH TITANS
Business Today India

TEEING OFF WITH TITANS

BUSINESS TODAY GOLF RESUMES ITS STORIED JOURNEY WITH THE 2024-25 SEASON OPENER IN DELHI-NCR. THERE ARE SIX MORE CITIES TO COME

time-read
2 minutos  |
January 05, 2025
AI FOOT FORWARD
Business Today India

AI FOOT FORWARD

THE WHO'S WHO OF THE AI WORLD GATHERED AT THE TAJ MAHAL PALACE IN MUMBAI TO DELIBERATE THE TRANSFORMATIVE IMPACT OF AI ON INNOVATION, INDUSTRIES, AND EVERYDAY LIFE.

time-read
1 min  |
January 05, 2025
Decolonising the Walls
Business Today India

Decolonising the Walls

ART START-UP MAAZI MERCHANT IS ON A MISSION TO BRING INDIA'S FORGOTTEN ART BACK HOME

time-read
6 minutos  |
January 05, 2025
"I'm bringing Kotak under one narrative, one strategy, one umbrella”
Business Today India

"I'm bringing Kotak under one narrative, one strategy, one umbrella”

Ashok Vaswani is a global banker who spent most of his career overseas at institutions like Citi Group and Barclays, among others.

time-read
9 minutos  |
January 05, 2025
CHOOSING THE CHAMPIONS
Business Today India

CHOOSING THE CHAMPIONS

The insights and methodology behind the BT-KPMG India's Best Banks and NBFCs Survey 2023-24.

time-read
8 minutos  |
January 05, 2025
'INDIA IS AT AN EXTREMELY SWEET SPOT'
Business Today India

'INDIA IS AT AN EXTREMELY SWEET SPOT'

The jury members of the BT-KPMG Survey of India's Best Banks and NBFCs discuss developments in the banking sector and more

time-read
6 minutos  |
January 05, 2025
FROM CRISIS TO TRIUMPH
Business Today India

FROM CRISIS TO TRIUMPH

Dinesh Kumar Khara stewarded SBI through multiple challenges during his tenure, while ensuring that profits tripled, productivity soared, and the bank consolidated its global standing

time-read
3 minutos  |
January 05, 2025
AT A CROSSROADS
Business Today India

AT A CROSSROADS

BANKS ARE FACING CHALLENGES ON BOTH SIDES OF THE BALANCE SHEET-ASSETS AS WELL AS LIABILITIES-WHICH ARE PUTTING PRESSURE ON MARGINS.

time-read
5 minutos  |
January 05, 2025
EXPANSIVE VISION
Business Today India

EXPANSIVE VISION

Bajaj Finance, an outlier in terms of digitisation, faces stiff competition. But it continues to expand its reach

time-read
4 minutos  |
January 05, 2025