The BSE Sensex ended above the 20,000 mark on Friday after gaining 2.6 percent in the last five trading sessions. The index has now risen for four straight weeks. Here are the top five Sensex gainers and losers of the week:
Tata Motors: The automaker’s stock surged 8.15 percent in the week ending May 10, making it the best Sensex performer. Though the stock is still flat in 2013, it has gained nearly 15 percent since April. However, Ambareesh Baliga of Edelweiss Financial Services advises caution: “Tata Motors’ overdependence on Jaguar Land Rover (JLR) to negate the Indian underperformance makes it a risky investment at this juncture especially in view of lower margins at JLR”
Hindalco: Shares of India’s largest aluminium producer surged 8 percent this week. The stock extended gains throughout the week after rising 3.5 percent on Monday, on expectations of better realizations after copper prices rose more than 6 percent last Friday.
ITC: Shares in India’s biggest cigarette maker ended the week with gains of 6.7 percent, after touching an all-time high on Friday. Investors have placed long positions in ITC futures, indicating they expect gains to continue.
Hero MotoCorp: This was another auto stock which was among the top five performers, gaining 5.9 percent for the week to end at 1705 rupees. The stock had fallen to 1434 rupees on April 15, but has gained nearly 19 percent since then. The company reported better-than-expected results in the last week of April, but sales growth has slowed amid rising competition, denting its market share.