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.

The global economic scenario is painting a mixed picture. In another step towards curbing rising inflation, on 28 July, the US Fed announced a rate hike of 0.75%. The US GDP numbers, which came out on the same day, were disappointing. In the April to June quarter, US GDP fell by 0.9%, a second consecutive decline. With this, the US economy is theoretically in a recession.

Similarly, the Eurozone business activity unexpectedly contracted this month (in July 2022). Its Purchasing Managers’ Index (PMI), an indicator of overall economic health, fell to 49.4 in July from 52.0 in June. This contraction was led by an accelerating decline in manufacturing activities coupled with a near-stalling of service sector growth.

While the global economy is in mayhem, India is in a better position at the current moment. Relative to the inflation levels in US and Europe, India’s levels are lower. Further, in FY22, India’s manufacturing sector received an FDI of USD 21.34 billion, signifying a YoY increase of 76%.

The Rupee has taken a sabbatical from breaking its own records against the dollar. Currently, the Rupee is trading below the Rs 80 mark against the dollar. Now, all eyes are set on the RBI’s MPC meet, which is set to take place from 03 August to 05 August. Considering that India too is trying to curb its high inflation levels, a rate hike is a no brainer at this point. However, the quantum of hike is a question of debate.

Looking at the Indian equity markets, the frontline index S&P BSE Sensex climbed 1.4% where NIFTY surged 1.25% in the last 5 trading sessions (between 22 July and 28 July).

Let us have a look at the top gainers and losers in the large-cap space during the last 5 trading sessions.