Samvat 2078: Winners And Losers

Russia's invasion of Ukraine and its impact on commodities, an oil and gas shortage, China's Covid-zero policy, strengthening of the U.S. dollar, policy tightening by central banks globally, and political instability in several countries including the U.K. are some of the major events that defined Samvat 2078, that began on Nov. 4, 2021.

The Vikram Samvat—also the Gujarati New Year—is 57 years ahead of the Gregorian calendar, and conventionally the closing day of bookkeeping records of the previous year.

In Samvat 2078, the NSE Nifty 50 fell nearly 2% while the BSE Sensex lost nearly 1.5%. But the benchmarks outperformed their global peers by a significant margin.

Here's how India's stock benchmarks performed in comparison to other global stock benchmarks over the period between Nov. 4, 2021 and Oct. 20, 2022.

Among the Nifty 50 stocks, 21 rose in Samvat 2078, while 29 fell.

Adani Enterprises Ltd. gained over 125% and was the top performer on the 50-stock gauge, followed by ITC Ltd., Mahindra and Mahindra Ltd., Coal India Ltd. and Eicher Motors Ltd.

Wipro Ltd., Tech Mahindra Ltd., Divi's Laboratories Ltd., Bharat Petroleum Corp. Ltd. and Tata Steel Ltd. declined the most among the index constituents.

Here are the top Nifty 50 gainers and losers in Samvat 2078:

FMCG, auto, PSU banks, metal and bank indexes gained in Samvat 2078, while IT and realty were among the top losers.

In fact, all the constituents in the Nifty IT index logged losses in Samvat 2078, with Mphasis Ltd., Tech Mahindra Ltd., Larsen & Toubro Infotech Ltd. and L&T Technology Services Ltd. losing over 30%.

While Adani Enterprises was the standout gainer on the Nifty 50 index, there were a couple of small-cap stocks that performed even better.

Here are the top gainers in the Nifty Smallcap 100 index in Samvat 2078:

Foreign investors pulled out of Indian equities in the first eight months of Samvat 2078, as they extended the longest selling streak—spanning nine months—in at least 10 years, before they turned net buyers for two months during July and August 2022.

The brief buying streak ended in September and continued in the first half of October.

Foreign investors poured their money into healthcare, FMCG, telecom, consumer services and services sectors, while they pulled out money from financial services, information technology, oil and gas, consumer durables and construction materials.

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.