The BSE Sensex closed 1.2 percent higher in a week that was marked by two successive record highs for the benchmark.
Prime Minister Narendra Modi’s Independence Day speech and easing wholesale inflation boosted sentiment earlier in the week. Buying of Indian equities by foreign investors and a slide in Brent crude prices to near 14-months lows also helped.
Foreign portfolio investors have poured $12.2 billion in Indian shares this year on hopes the new BJP-led government and the Reserve Bank will revive flagging growth and lower deficit.
In the currency market, the rupee on Friday hit a three-week high on strong, continued foreign buying of shares and debt with gains in emerging market currencies aiding sentiment.
Here are the top five Sensex gainers and losers this week:
CIPLA: The drugmaker’s stock rose 11.2 percent this week, making it the best Sensex performer. While Cipla missed street estimates in its June-quarter earnings its stock touched a record high of 501 rupees on Friday.