India’s primary benchmark index Nifty 50 ends 2023 with a stellar performance, touching the record high of 21,800 in the last few days of the year. Despite volatile global markets and geopolitical tensions, Nifty recorded major gains throughout the year.
The main boom of Nifty 50 this year was due to the performance of midcap and smallcap segments of the market, which ended up gaining 40 percent and 50 percent on the overall market in the current fiscal year.
Nifty 50 midcap recorded a sharp spike in shares in 2023, outperforming the blue-chip indexes despite valuation concerns. Despite the major gains, some stocks saw a significant decline in their shares, lagging behind the performers.
According to data compiled by Bloomberg, here are the top 10 midcap losers of Nifty 50 in the year 2023.
10 biggest midcap losers on Nifty in 2023
Rajesh Exports Ltd recorded a share price of ₹367 on December 29 when markets closed, and is the biggest midcap loser of 2023 in Nifty 50. The company logged a sharp 50.77 per cent decline in its stock price.
The second biggest loser of 2023 on Nifty50 is Adani Wilmar Ltd, the current market price (CPM) of which was recorded at ₹355 on Friday. Adani Wilmar shares declined by 37.42 percent this year.
Alembic Pharmaceuticals Ltd had a CPM of ₹468.65, and was the third laggard of the year 2023. The firm logged a sharp decline of 18.20 percent in its stock price this year.
Sumitomo Chemical India Ltd has its share price currently standing at ₹404 apiece, landing in the middle of the list of biggest midcap losers. The firm saw a decline of 16.50 percent in its stock price in 2023.
Fifth on the list is Canara Bank with a total CPM of ₹281.05. According to the Nifty50 index, Canara saw a steep decline of 15.68 per cent in its share price in the year 2023.
Honeywell Automation India Ltd stood at a CPM of ₹35,109.35, landing sixth on the list of biggest losers this year. In 2023, the share prices of the firm saw a decline of 15.62 percent.
Atul Ltd on Friday recorded a share price of ₹71802, but has shown a major decline on Nifty this year, with its share prices falling by 15.05 percent in 2023.
Vinati Organics Ltd has a total CPM of ₹1714.60, emerging as the eighth biggest midcap laggard of 2023. The company saw a decline of 13.73 percent in its share price this year.
Ninth on the list is Alkyl Amines Chemicals, with a total CPM of ₹2295.60, recording a sharp 13.44 per cent decline in its stock price in the year 2023.
Page Industries is tenth on the list, recording a share price of ₹38,512.75 when the markets closed on Friday. The shares of the company fell by over 10 percent in the year 2023.
