After registering record closing highs, the BSE Sensex ended with small weekly gains as the index fell sharply on Friday after the RBI governor’s strong comments on inflation dented sentiment.
Raghuram Rajan called inflation a “destructive disease” on Thursday. Earlier in the week, a panel recommended that the RBI should make managing inflation its main policy objective and set monetary policy by committee.
The central bank is likely to keep the repo rate on hold at its policy review next week, a Reuters poll published on Jan. 23 showed.
Here are the top five gainers and losers of the week:
AXIS BANK: After falling for two consecutive weeks, the stock gained 4.7 percent and emerged as the best performing Sensex stock. Despite the week’s gains, the stock is still down 7 percent so far in January.
Half of the Indian government’s 20.7 percent stake in Axis Bank, India’s third-largest private-sector lender by assets, is likely to be auctioned by the end of February.