Subex zooms nearly 67 per cent; read to know top 10 performing stocks of the week!

Tap to know which stocks helped generate wealth for investors this week!

Nifty ended the final trading session of the week with modest gains of 0.09 while on a weekly basis, it jumped over 1 per cent. Interestingly, the index closed in the green for the most part of the week except on Thursday. Besides, D-Street was gripped by nerve-wracking volatility on the eve of the weekly options expiry as well as by RBI MPC’s interest rate decision.   

In line with street expectations, RBI announced a hike in the repo rate by 50 bps to 5.4 per cent on Friday and retained its policy stance at 'withdrawal of accommodation'. This is the third consecutive hike in the repo rate, which has been done in order to tame inflationary expectations. The challenges on the global macro front continue to persist with high crude oil prices, protracted geopolitical tensions, an upsurge in global financial market volatility, and tightening global financial conditions. Amidst this, RBI retained its FY23 GDP forecast at 7.2 per cent, given that there has been an ample amount of broadening in India’s economic activity and several factors pointed towards the strengthening of urban demand.   

Talking about the sectoral performance, the majority of the sectors ended in green led by Nifty IT, auto, and metal. All these sectors logged gains of more than 2 per cent.   

Coming to stock-specific action, there were many stocks that were seen buzzing on D-Street!   

Here are the top ten stocks that gained the most during the week from NSE (minimum quantity traded 50,000): 

Subex emerged as the top gainer as it jumped nearly 67 per cent and interestingly, it has also made back-to-back upper circuits in the last three trading sessions. Meanwhile, Burnpur Cement was the second-best performer of the week as it rose 44.05 per cent in one week!