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Business News/ Markets / Stock Markets/  From Adani Wilmar to Canara Bank – here are top 10 Nifty midcap laggards of 2023, check full list here
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From Adani Wilmar to Canara Bank – here are top 10 Nifty midcap laggards of 2023, check full list here

The Nifty50 midcap gained over 46.57 percent in 2023, far outperforming the blue-chip indexes despite valuation concerns.

Top 10 Nifty midcap laggards of 2023 (Image: Pixabay)Premium
Top 10 Nifty midcap laggards of 2023 (Image: Pixabay)

Despite facing persistent challenges like elevated interest rates, geopolitical tensions, fluctuating crude oil prices, and ongoing inflation, the Nifty 50, India's primary equity benchmark, is on track to conclude the year with robust gains. Analysts suggest that, amidst all-time high market conditions, investors should closely monitor factors such as global and domestic indicators, US Federal Reserve interest rate decisions, inflation rates, upcoming general and state elections, forthcoming quarterly earnings reports, and the Interim Budget for 2024 in the coming weeks.

Also read: Midcaps in Review | From REC to Oil India, here are the top 10 midcap gainers of 2023; check full list

In 2023, the Indian stock market started the year on a subdued note and experienced a downtrend in the first quarter. However, it witnessed a significant upturn from April onward. The Nifty 50, a leading index, surged to new highs, delivering year-to-date returns exceeding 18 percent. Additionally, mid and small-cap segments outperformed, yielding returns of 40 percent and 50 percent, respectively.

Nifty Midcap 150 represents the next 150 companies (companies ranked 101-250) based on full market capitalisation from Nifty 500. This index intends to measure the performance of mid market capitalisation companies.

The total traded value for the last six months ending September 2023, of all index constituents is approximately 21.1% of the traded value of all stocks on NSE, according to data by NSE.

Also read: Smallcaps in Review | From BSE to Angel One, here are the top 10 smallcap gainers of 2023; check full list

The Nifty50 midcap gained over 46.57 percent in 2023, far outperforming the blue-chip indexes despite valuation concerns. According to Bloomberg data, here are the top 10 midcap laggards of 2023 and the cumulative change in their share price during 2023:

Here are top 10 midcap laggards of 2023:

  1. Rajesh Exports Ltd: At a current market price (CMP) of 359.15, the stock has emerged as the biggest midcap laggard of 2023, logging a sharp 50.77 per cent decline in its stock price.
  2. Adani Wilmar Ltd:  At a CMP of 386.55, the stock has emerged as the second biggest midcap laggard of 2023, logging a sharp 37.42 per cent decline in its stock price.
  3. Aditya Birla Fashion and Retail: At a CMP of 219.80, the stock has emerged as the third biggest midcap laggard of 2023, logging a sharp 23.55 per cent decline in its stock price.
  4. Alembic Pharmaceuticals Ltd: At a CMP of 468.65, the stock has emerged as the fourth biggest midcap laggard of 2023, logging a sharp 18.20 per cent decline in its stock price.
  5. Sumitomo Chemical India Ltd: At a CMP of 406.30, the stock has emerged as the fifth biggest midcap laggard of 2023, logging a sharp 16.50 per cent decline in its stock price.
  6. Canara Bank: At a CMP of 281.05, the stock has emerged as the sixth biggest midcap laggard of 2023, logging a sharp 15.68 per cent decline in its stock price.
  7. Honeywell Automation India Ltd: At a CMP of 35109.35, the stock has emerged as the seventh biggest midcap laggard of 2023, logging a sharp 15.62 per cent decline in its stock price.
  8. Atul Ltd: At a CMP of 6988.15, the stock has emerged as the eighth biggest midcap laggard of 2023, logging a sharp 15.05 per cent decline in its stock price.
  9. Vinati Organics Ltd: At a CMP of 1714.60, the stock has emerged as the ninth biggest midcap laggard of 2023, logging a sharp 13.73 per cent decline in its stock price.
  10. Alkyl Amines Chemicals: At a CMP of 2295,60, the stock has emerged as the second biggest midcap laggard of 2023, logging a sharp 13.44 per cent decline in its stock price.

Also read: Outlook 2024: At 15% upside, Nifty 50 to claim 25,000 by Dec 2024? Here's why analysts are bullish on Indian markets

Both Nifty Smallcap 250 and Nifty Midcap 150 indices have outperformed the other indices when compared on a three-month, six-month, and on an annual basis. In the last three months, Nifty Midcap rose 8.64 per cent and Nifty Smallcap 250 was up 11.07 per cent.

In the last six months, both indices have clocked gains of 26.46 per cent and 33.68 per cent, respectively. Finally, even on a 12-month basis, both indices rose 32 per cent and 37.31 per cent, respectively - clocking the highest gains when compared to other major indices including Nifty 50 and Nifty 500, according to domstic brokerage firm Motilal Oswal.

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Published: 29 Dec 2023, 10:55 PM IST
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