India Insight

Markets this week: Infosys, Sesa Sterlite top Sensex losers

The BSE Sensex closed in the red twice this week, eventually ending with losses of 0.5 percent. The week began with the benchmark index touching an all-time high of 22,023.98 points in trade on Monday, aided by strong foreign buying.

Shares retreated from record highs as investors booked profits and by Friday, some caution was setting in about the pace of recent gains.

Key economic data released this week showed prices cooling as wholesale and consumer inflation eased and industrial output rose slightly, raising hopes that the Reserve Bank of India would leave its key interest rate unchanged at its policy meet in April.

In the currency market, the rupee fell 0.2 percent for the week, snapping a two-week winning streak.

Here are the top five Sensex gainers and losers of the week:

LOSERS

INFOSYS: Shares in Infosys, once considered the bellwether of the Indian IT sector, ended the week with losses of 9.4 percent after its chairman said revenue could grow at the lower end of guidance for this fiscal year.

Sensex performers in 2013: TCS surges 73 percent, Sun Pharma gains 54 percent

By Aditya Karla and Sankalp Phartiyal

The BSE Sensex ended 2013 with gains of 9 percent after hitting life highs during the year. The benchmark index touched an all-time high of 21,483.74 on Dec. 9 after falling to a 2013 low of 17,448.71 in August.

Foreign inflows boosted sentiment on the street even as concerns about a slowing economy and high inflation weighed. Foreign institutional investors (FIIs) bought a net $20.1 billion worth of Indian shares in the year. FIIs had bought $24.5 billion worth of stocks in 2012.

The sharp fall in the rupee and recovering U.S and European economies boosted export-driven sectors, helping shares in many IT and pharma companies rank among the top Sensex performers.

Markets this week: Sensex gains 1 percent, Tata Power surges over 10 percent

By Ankush Arora and Aditya Kalra

The BSE Sensex ended with gains of 1 percent in the week ending Dec. 6, as investor sentiment was boosted after exit polls indicated the Bharatiya Janata Party (BJP), seen by many as being more business-friendly, will win four of the five state elections conducted recently.

State elections are seen as a semi-final before the national polls next year. Elections are the key theme for the first half of 2014 and the recent rally in the stock market implies that a BJP government is no longer viewed as a low-probability scenario, UBS said this week. The investment bank has set a 2014 target for Nifty at 6,900.

Foreign institutional investors (FIIs) inflows for the year have crossed 1 trillion rupees, regulatory and exchange data showed. They have made net purchases of around $18 billion so far this year, Deutsche Bank figures show.

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