Ruturaj Gaikwad’s Sportiqo stocks rise following stellar start to IPL 2023

With the Indian Premier League (IPL) 2023 season underway, Sportiqo, a blockchain-based fantasy cricket platform, is also busy evaluating the stocks of players. Sportiqo allows fans to invest or trade in players, just like stocks. The engaging platform has a performance ranking system in place, based on an algorithm which analyzes batting, bowling and fielding statistics and assigns an index rating to each player.

As per the system in place, players get points for every ball that they participate in as a batter or bowler. For batters, boundaries get positive points whereas dot balls, singles and dismissals have negative points. Batters who score faster than the rest of their teammates get bonus points. Conversely, those who score slower than the rest of their team get penalized.

In a similar vein, for bowlers, wickets and dot balls have positive points whereas boundaries and extras such as no-balls and wides have negative points. Bowlers whose economy rates are much lower than the rest of their team get bonus points. They also get penalty points when they concede runs at a much higher rate than the rest of their team.

Ruturaj Gaikwad is the current holder of the Orange Cap with 149 runs

Analyzing the stocks of players after week one of IPL 2023, Chennai Super Kings (CSK) opener Ruturaj Gaikwad has emerged as the top gainer. His current price stands at 281.88, while his IPO price (price of the stock before the tournament started) was 151.8838. Gaikwad’s stocks have risen by a humungous 86%. The 26-year-old scored 92 against Gujarat Titans (GT) in the tournament opener, and followed it up with 57 against Lucknow Super Giants (LSG).

Royal Challengers Bangalore (RCB) skipper Faf du Plessis is second on the list of top gainers. His current price stands at 223.05, while his IPO price was 167.66. There has been a 33% percent change in Du Plessis’ stocks. The veteran batter scored 73 against Mumbai Indians (MI) and 23 versus Kolkata Knight Riders (KKR).

Punjab Kings (PBKS) skipper Shikhar Dhawan, RCB batter Virat Kohli and Kolkata Knight Riders spinner Varun Chakaravarthy complete the list of top five gainers. Dhawan’s current price is 198.05, while his IPO price was 151.5 (31%). Kohli’s price has gone up to 207.40 from his IPO price of 162.2868 (28%). As for Chakaravarthy, his IPO price was 117.16, while his current price stands at 147.59 (26%).

Sam Curran, IPL's most expensive player ever, has lost 15% stocks in Week 1

Shifting focus to the five biggest losing stocks, RCB pacer Harshal Patel ‘tops’ the list. The 32-year-old registered figures of 1/43 in four overs against Mumbai Indians (MI) and 1/38 in three overs against KKR. Harshal’s current price is at 91.03, while his IPL price was 133.32, a fall of (-32%). CSK pacer Deepak Chahar has also had a disappointing start to his IPL 2023 campaign. He had figures of 0/29 against Gujarat and 0/55 against Lucknow. Chahar’s IPO price was 120.6748, while his current price stands at 91.86 (-24%).

Nitish Rana, Sam Curran and Ravindra Jadeja complete their list of top five losing stocks after week 1 of IPL 2023. Rana’s current price is 121.46, while his IPO price was 147.46 (-18%). Similarly, Curran’s current price is 128.83 in comparison to his IPO price of 151.8838 (-15%). Jadeja’s stocks have also fallen by the same margin - from 162.2868 to 138.47.

Who are the top performers based on points?

KKR's Varun Chakaravarthy is the only bowler among the top performers of Week 1

If we look at the list of top five performers based on points, Gaikwad again tops the charts with 120.60, while Du Plessis follows him with 71.00 points. Rajasthan Royals opener Jos Buttler (70.20) features at number three. The top five list is completed by Dhawan (61.00) and Kohli (57.00).