By Aditya Kalra and Sankalp Phartiyal
The Sensex lost 2 percent and the Nifty slipped 2.3 percent in a tough week for stocks as Indian markets remained cautious ahead of the Reserve Bank of India (RBI) policy review on July 30.
The benchmark Sensex, which ended in the red for three of five trading sessions, touched a 2-1/2 year high during the week as consumer goods shares surged.
The rupee continues to be in focus as it hit a five-week high on Friday. The RBI tightened liquidity further on Tuesday to support the rupee and the central bank is likely to hold rates at its policy review next week.
Here are the top five losers and gainers of the week that ended on July 26:
Larsen & Toubro (L&T): India’s largest engineering and construction conglomerate was the worst Sensex performer of the week, with its shares losing 13.2 percent after June-quarter results disappointed markets.
The company warned of a tough road ahead when it reported a 12.5 percent fall in net profit on July 22, as a slowing economy continues to hurt. Shares in L&T fell more than 7 percent on results day and ended in the red in all but one trading session this week.