It has been a good year so far for the markets. Nifty is up 17 per cent, and the Next 50 is up 22 per cent. But the bigger rally came in the year's second half as evidenced in the graph 'Near-term performance'. Meanwhile, in the long run, Nifty Next 50 continues to remain more volatile while the comeback of large-cap active funds puts them neck-and-neck with the Nifty 50. Top and bottom performers There has been a mixed set of top performers for Nifty 50 and Nifty Next 50 in the year's second half. On the one hand, some of the Adani companies bounced back from the lows of the Hindenburg saga. Select PSUs (public sector undertakings) had a good time as well. At the other end of the spectrum were some of the Nifty 50 heavyweights, who had a rather forgettable later half of 2023. HDFC Bank and Reliance were two such flops. Hits and misses in the second half of 2023 Nifty 50 Top performers Returns (%) Bottom performers Returns (%) NTPC 61.3 UPL -11.2 Coal India 51.5 Hindustan Unilever -5.8 Adani Ports and Special Economic Zone 45.9 HDFC Bank -2.6 Larsen & Toubro 40.9 Britannia Industries -2.2 Hero MotoCorp 33.9 Reliance Industries -2.1 From Jul 1, 2023 to Dec 15, 2023 Movers and shakers in the second half of 2023 Nifty Next 50 Top performers Returns (%) Bottom performers Returns (%) PNB 76.7
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