India Insight

Markets this week: Coal India, ITC top Sensex losers

The BSE Sensex lost 3 percent in the week ending Aug. 2, extending its losses from the previous week and marking its biggest weekly fall since mid-March.

Markets remained on the edge on uncertainty over how long the Reserve Bank of India (RBI) would continue measures to defend the rupee. The rupee fell 3.4 percent over the last five trading sessions and ended at a record closing low on Friday.

The central bank left the repo rate and cash reserve ratio unchanged at its policy review on July 30, but said it will roll back recent liquidity tightening measures when stability returns to the currency market.

Here are the top five losers and gainers:

LOSERS

Coal India: Shares in the state-owned firm ended the week down nearly 10 percent, taking its losses for the year to 28.3 percent. On Friday, the stock fell around 6 percent and hit an all-time low of 250.65 rupees during trade. The stock has now been down for three consecutive weeks.

On July 30, the government said it will sell a 5 percent stake in Coal India. In 2010, India sold a 10 percent stake in the company, raising $3.4 billion in an IPO.

Tracking Sensex: L&T top loser this week

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.

Markets struggle: At least 100 stocks hit 52-week low on NSE

Indian markets struggled in trade on Thursday with the Sensex falling more than 200 points while the Nifty sank over 50 points. Weak Asian markets also weighed as the Nikkei slumped more than 800 points on worries the U.S. Fed would trim its stimulus programme in the coming months.

The rupee also remained weak, trading below 58 versus the dollar, as Finance Minister P. Chidambaram did not announce any concrete steps to arrest its fall.

At least 100 stocks had touched their 52-week low on the National Stock Exchange (NSE) during trade, data showed. Here’s a look at some stocks that hit a one-year low during Thursday’s trade:

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