By Sankalp Phartiyal and Ankush Arora
Indian shares rose around 2 percent on heavy buying by foreign investors in what was a holiday-truncated week. Foreign investors have been net buyers of cash shares in each of the previous 10 sessions, with net inflows totalling around $600 million, exchange and regulatory data show.
In the currency market, the rupee closed at 61.75 per dollar on Friday after the unit strengthened to its highest in more than a month.
GDP data for the December quarter on Friday showed the Indian economy grew at a slower-than-expected 4.7 percent, dragged down by slowing manufacturing and mining activity.
Also, the country’s fiscal deficit during April-January this financial year has crossed the target for the whole year, putting pressure on Finance Minister P. Chidambaram to make spending cuts ahead of a national election due by May.
Here are the top five Sensex gainers and losers of the week:
BHEL: The engineering and manufacturing company was the best Sensex performer this week with its shares surging 11.1 percent. However, the outlook for the public sector undertaking continues to be grim.