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Animated Chart: The S&P 500 in 2023 So Far

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The S&P 500’s Performance in 2023 Q1

With one quarter of 2023 in the books, how has the S&P 500 performed so far?

The index had a tumultuous 2022, ending the year down 18%, its worst performance since 2008. But so far, despite dealing with tight monetary conditions and an unexpected banking crisis, the S&P 500 has promptly started to rebound.

The above animation from Jan Varsava shows the stock performance of each company on the S&P 500, categorized by sector.

Biggest Gainers on the S&P 500

The S&P 500 increased 7.5% during the first quarter of 2023. Though it was led by a few big outperformers, more than half of the stocks on the index closed above their end-of-December prices.

Here are the top 30 biggest gainers on the index from January 1 to March 31, 2023.

RankCompany3-Month Return
1Nvidia90.1%
2Meta (Facebook)76.1%
3Tesla68.4%
4Warner Bros. Discovery59.3%
5Align Technology58.4%
6AMD51.3%
7Salesforce50.7%
8West Pharmaceuticals47.3%
9General Electric46.3%
10Catalent46.0%
11First Solar45.2%
12Monolithic Power Systems41.8%
13MarketAxess Holdings40.6%
14GE Healthcare Tech40.5%
15Arista Networks38.3%
16ANSYS Inc.37.8%
17Fortinet Inc.35.9%
18Wynn Resorts35.7%
19Paramount Global33.8%
20FedEx Corp32.7%
21MGM Resorts32.5%
22Royal Caribbean Group32.1%
23ON Semiconductor Corp32.0%
24Booking Holdings31.6%
25Cadence Design Systems30.8%
26Skyworks Solutions30.2%
27Pulte Group28.4%
28Seagate Technology27.1%
29Apple27.1%
30Lam Research26.6%

Nvidia shares gained the most of all the companies on the S&P 500 in Q1 2023, posting a staggering 90% return over three months.

As the world’s largest chipmaker by market cap, Nvidia gained from both strong earnings and semiconductor industry performance. It also benefited from the rising prevalence of artificial intelligence (AI) through software like ChatGPT.

Meanwhile, other tech giants Apple and Microsoft gained 27% and 21% respectively over the same time period.

Tech Leads Returns by Sector

The technology sector as a whole was the best performing sectoral index thanks to these big moves, up 21.7% at the end of March.

Sector3-Month Return
Technology21.65%
Consumer Services21.27%
Consumer Discretionary16.60%
Materials4.29%
Industrials 3.47%
Real Estate1.95%
Consumer Staples0.72%
Utilities-3.24%
Health Care-4.31%
Energy-4.37%
Financials -5.56%
S&P 5007.5%

Shares of other tech-adjacent companies like Meta (formerly Facebook) and Tesla—listed on the S&P 500 under the categories of communication services and consumer discretionary—also had a strong start to the year and lifted their respective sectors.

Meta in particular is up 76% in Q1 2023, continuing its rebound after falling to an eight-year low in November 2022 on the back of better-than-expected fourth quarter results and share buybacks.

Biggest Losers on the S&P 500

On the other side of the S&P 500, the financial sector was rocked by sudden collapses.

Signature Bank and Silicon Valley Financial Group shares lost the most ground in the first quarter, after both banks collapsed, shedding nearly all of their value in a matter of 30 days.

In fact, seven of the 10 worst performers on the index to start 2023 are banks or financial companies. The visualization shows the ripple effect on the market after the collapse of regional banks in March, and the ensuing rout driving the entire sector down 5.6% year-to-date.

Here are the top 30 biggest losers on the index from January 1 to March 31, 2023.

RankCompany3-Month Return
1Signature Bank-99.8%
2Silicon Valley Financial Group-99.6%
3First Republic Bank-88.5%
4Lumen Technologies-49.2%
5Zions Bancorporation-38.6%
6Charles Schwab Corp-36.9%
7Comerica Incorporated-33.9%
8DISH Network-33.5%
9KeyCorp-27.3%
10Lincoln National Corp-25.8%
11Centene Corporation-22.9%
12Cigna Group-22.5%
13APA Corporation-22.3%
14Citizens Financial Group-22.1%
15Enphase Energy Inc.-20.6%
16Baxter International Inc.-19.9%
17Truist Financial Corporation-19.9%
18American International Group-19.8%
19CVS Health Corporation-19.7%
20Pfizer-19.6%
21Gen Digital-19.5%
22MetLife-19.4%
23Huntington Bancshares-19.4%
24Fidelity National-19.3%
25Halliburton Company-19.2%
26Molina Healthcare-19.0%
27PNC Financial Services-18.8%
28Boston Properties-18.4%
29Fifth Third Bancorp-17.8%
30Allstate Corporation-17.7%

Despite the tight monetary landscape, traditionally defensive sectors like energy, consumer staples, and healthcare also underperformed the broader index. This is a reversal from market trends seen in 2022.

Investment Trends to Watch for in 2023

Experts predict a pause in U.S. interest rate hikes “sometime in 2023” but it’s unclear when (or at what level) the pause will take place given persistent inflation in the economy.

However, if interest rates level off in 2023, it could be a key momentum maker for the S&P 500. As Barron’s points out, the index tends to rise after hikes are paused.

Meanwhile, the current tumult in the financial sector is fanning the flames of recessionary fears. How effectively regulators manage the crisis might be the story of the year.

Finally, as we have seen in 2023 so far, investor interest in AI has sent tech stocks soaring. Is this a quick fad, or an overarching trend for the year?

Curious about what started the upheaval in the financial sector? Check out Timeline: The Shocking Collapse of Silicon Valley Bank for the backstory.
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This article was published as a part of Visual Capitalist's Creator Program, which features data-driven visuals from some of our favorite Creators around the world.

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Economy

Mapped: Indian States with Cities Over 1 Million People

Ten Indian states—most of them from the northeast region of the country—don’t have a single city with 1 million residents.

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A cropped map of Indian states and the number of 1 million+ cities in them.

Mapped: Indian States with Cities Over 1 Million People

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Slightly more than one-third of the 1.4 billion Indian population lives in an urban area. So where are the country’s most populous cities, and how are they spread across the country’s 28 states and eight union territories?

This map shows the number of Indian urban agglomerations (cities) with more than a million residents in each jurisdiction. Data for this graphic is sourced from 2024 urban agglomeration estimates in the UN World Urbanization Prospects.

Ranked: Indian States by Cities with 1M Residents

India’s Uttar Pradesh state has 10 cities with a population size of 1 million or more. It is also India’s most populous state, home to 240 million people. This makes it comparable to the size of Pakistan, the fifth most populous country in the world.

Indian StateCities with 1M Residents (2024)City Names
Uttar Pradesh10Lucknow, Kanpur, Agra, Meerut,
Varanasi, Prayagraj,
Bareilly, Aligarh,
Moradabad, Saharanpur
Kerala7Kozhikode,
Malappuram,
Thrissur, Kochi,
Thiruvananthapura,
Kannur, Kollam
Maharashtra6Mumbai, Pune,
Nagpur, Nashik,
Aurangabad, Solapur
Tamil Nadu6Chennai, Coimbatore,
Madurai, Tiruppur,
Tiruchirappalli, Salem
Gujarat4Ahmedabad, Surat,
Vadodara, Rajkot
Madhya Pradesh4Indore, Bhopal,
Jabalpur, Gwalior
Jharkhand3Jamshedpur, Ranchi,
Dhanbad
Karnataka3Bengaluru, Mysore,
Hubli-Dharwad
Punjab3Ludhiana, Amritsar,
Jalandhar
Rajasthan3Jaipur, Jodhpur, Kota
West Bengal3Kolkata, Asansol, Siliguri
Andhra Pradesh2Visakhapatnam,
Vijayawada
Chhattisgarh2Raipur, Durg-Bhilainagar
Telangana2Hyderabad, Warangal
Assam1Guwahati
Bihar1Patna
Odisha1Bhubaneswar
Uttarakhand1Dehradun
Chandigarh*1Chandigargh
Delhi*1New Delhi
Jammu & Kashmir*1Srinagar

*Union Territories. Figures rounded. Some city names may have changed since this data was published.

Further south, Kerala (7), Maharashtra (6), and Tamil Nadu (6) also have more than five cities with a million or more people.

Meanwhile, some cities, including India’s national capital, New Delhi, are either in or are themselves union territories—areas directly administered by the central government.

Ten Indian states—most of them from the country’s northeast region—don’t have a single city with 1 million residents.

All together, India has 65 cities with more than one million inhabitants. For comparison, China has 105, and the U.S. has nine.

RankCityState/Union Territory2024 Population
Estimates
1New DelhiDelhi*34M
2MumbaiMaharashtra22M
3KolkataWest Bengal16M
4BengaluruKarnataka14M
5ChennaiTamil Nadu12M
6HyderabadTelangana11M
7AhmadabadGujarat9M
8SuratGujarat8M
9PuneMaharashtra7M
10JaipurRajasthan4M
11KozhikodeKerala4M
12MalappuramKerala4M
13LucknowUttar Pradesh4M
14ThrissurKerala4M
15KochiKerala4M
16IndoreMadhya Pradesh3M
17KanpurUttar Pradesh3M
18NagpurMaharashtra3M
19CoimbatoreTamil Nadu3M
20ThiruvananthapuramKerala3M
21PatnaBihar3M
22BhopalMadhya Pradesh3M
23AgraUttar Pradesh3M
24KannurKerala2M
25VisakhapatnamAndhra Pradesh2M
26VadodaraGujarat2M
27NashikMaharashtra2M
28VijayawadaAndhra Pradesh2M
29KollamKerala2M
30RajkotGujarat2M
31LudhianaPunjab2M
32MaduraiTamil Nadu2M
33RaipurChhattisgarh2M
34MeerutUttar Pradesh2M
35VaranasiUttar Pradesh2M
36SrinagarJammu & Kashmir*2M
37TiruppurTamil Nadu2M
38JamshedpurJharkhand2M
39AurangabadMaharashtra2M
40JodhpurRajasthan2M
41RanchiJharkhand2M
42KotaRajasthan2M
43JabalpurMadhya Pradesh2M
44AsansolWest Bengal2M
45GwaliorMadhya Pradesh2M
46AllahabadUttar Pradesh2M
47AmritsarPunjab1M
48DhanbadJharkhand1M
49BareillyUttar Pradesh1M
50AligarhUttar Pradesh1M
51MoradabadUttar Pradesh1M
52MysoreKarnataka1M
53Durg-BhilainagarChhattisgarh1M
54BhubaneswarOdisha1M
55TiruchirappalliTamil Nadu1M
56ChandigarhChandigarh*1M
57SaharanpurUttar Pradesh1M
58Hubli-DharwadKarnataka1M
59GuwahatiAssam1M
60SalemTamil Nadu1M
61SiliguriWest Bengal1M
62JalandharPunjab1M
63SolapurMaharashtra1M
64WarangalTelangana1M
65DehradunUttarakhand1M

*Union Territories. Figures rounded. Some city names may have changed since this data was published.

Interestingly, three of the five most populous Indian cities (Mumbai, Kolkata, and Chennai) were villages that became key British trading outposts. As a result all three cities have a fort within their city limits which acted as protection against competing colonial interests at the time.

Finally, Uttar Pradesh—which leads the states by number of cities with 1M people—doesn’t have a single metropolis within the top 10.

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