Although 2023 was one of Nifty’s most prosperous years, these are the index’s top midcap losers for the year. With a remarkable performance, India’s main benchmark index, the Nifty 50, closes 2023 at a record high of 21,800 in the final few days of the year. In spite of geopolitical unrest and an erratic world market, the Nifty saw significant year-over-year increases. The strength of the midcap and small cap market categories, which ended up gaining 40% and 50% on the overall market in the current fiscal year, was primarily responsible for this year’s Nifty 50 boom.
Despite worries about valuation, the Nifty 50 midcap saw a significant increase in shares in 2023, exceeding the blue-chip indexes. Some stocks experienced a notable decrease in share value despite the notable gain, trailing behind the top performers. These are the top 10 Nifty 50 midcap losses in 3023, based on data gathered by Bloomberg. When the markets closed on December 29, Ajesh Exports LTD’’s shares were valued at Rs.367. This makes it the largest midcap loser in the Nifty 50 for 2023. The stock price of the corporation saw a steep decrease of 50.77 percent.
With a current market price (CPM) of 335 on Friday, Adani Wilmar Ltd. is the second biggest loser of 2023 on the Nifty50. This year, Adani Wilmar’s share price fell by 37.42%. Alembic Pharmaceutical Ltd. was the third laggard of 2023 with a CPM of 468.65. This year, the company saw a significant drop in its stock price of 18.20 percent. At 404 per share, Sumitomo Chemical India Ltd. is presently ranked in the middle of the list of greatest midcap losers. The company’s stock price dropped by 16.50 percent in 2023.
Canara Bank, with a total CPM of 281.05, comes in fifth on the list. In 2023, Canara’s share price experienced a sharp decrease of 15.68 percent, as per the Nifty50 index. With a CPM of 35,109.35, Honeywell Automation India Ltd. ranked sixth among this year’s largest losers. The company’s share prices dropped 15.62 percent in 2023. Atul Ltd.’s share price was 71802 on Friday, although it has had a significant drop on the Nifty this year, with a 15.05 percent reduction in 2023.
With a total CPM of 1714.60, Vinati Organics Ltd. ranks sixth among midcap laggards for 2023. This year, the company’s share price fell by 13.73 percent. Alkyl Amines Chemicals, which ranks ninth on the list with a total CPM of 2295.60, saw a significant 13.44 percent fall in its stock price in 2023. After the market closed on Friday, Page Industries’ share price was 38512.75, placing it eighth on the list. In 2023, the company’s shares dropped by more than ten percent.
