Tracking Sensex: Top five losers, gainers this week
It was a tough week for Indian shares as the BSE Sensex fell nearly 3 percent and the Nifty lost 3.3 percent as U.S. Federal Reserve chief Ben Bernankeâ€™s suggestion that stimulus measures may be scaled back at one of their next few meetings dented sentiment.
Here are the top five Sensex gainers and losers for the week ending May 24:
State Bank of India (SBI): Indiaâ€™s largest lender was the worst Sensex performer this week with losses of 11.3 percent, taking a hit after posting its first quarterly net loss in two years on Thursday.
With Fridayâ€™s close of 2151.15 rupees, the stock has now lost 15.6 percent from its 52-week high of 2550 rupees hit on January 10, 2013. According to Thomson Reuters data, 29 of 51 analysts covering the stock have a buy or equivalent rating on it, while 15 have a sell or equivalent rating.
Larsen & Toubro (L&T): Next among losers was L&T with losses of 10.23 percent for the week ending May 24. The companyâ€™s quarterly results on Wednesday disappointed markets as it posted a 6.9 percent fall in net profit for the March quarter, leading to a near 7 percent drop in the stock that day. The stock ended the week at 1456.90 rupees.
However, Ambareesh Baliga of Edelweiss Financial Services was optimistic, saying they have a target price of 1870 rupees. Thomson Reuters data shows that 31 of the 48 analysts covering the stock have a buy orÂ equivalent rating on the stock.
NTPC: Shares in Indiaâ€™s largest power utility ended the week with losses of nearly 6 percent.Â The stock closed at 150.25 rupees on Friday, but is still up around 10 percent from its 52-week low of 136.10 rupees hit on March 21.
Earlier in May, the company reported a near 69 percent rise in March-quarter net profit. It was also among key stocks bought by FIIs during the March quarter, a BofA-ML research report said.
Jindal Steel: This stock was next on the loserâ€™s list as it shed 5.58 percent. The stock, which ended in negative territory in three of the last five sessions, has now lost 34 percent so far this year.
Reliance Industries (RIL): One of the largest companies by market capitalization in the Sensex, RIL lost 5.57 percent this week. The year 2013 has not been a great one for the stock, as the blue-chip share is off 17.5 percent from its 52-week high of 954.80 rupees hit on Jan. 21.
A media report said this week that Reliance Jio, the telecom arm of RIL, plans to roll out fourth generation services in metros by the end of this financial year.
GAINERS: Coal India was the best Sensex performer of the week, ending up 4.28 percent while stocks such as Sun Pharma (up 0.45 percent), HDFC (up 0.44 percent) Tata Steel (up 0.38 percent) and TCS (up 0.13 percent) rose marginally.