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 Bernanke’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): India’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 Friday’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 company’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.