By Sankalp Phartiyal and Ankush Arora
The BSE Sensex recovered on Thursday and Friday after the index lost around 700 points in the first three trading sessions of the week. However, the index still ended down 0.4 percent as a weak rupee, concerns over foreign flows and uncertainty over the end of the U.S. Fed’s stimulus plan kept investors on the edge.
As a worsening current account deficit and inflation loomed large, the rupee hit fresh record lows below 65 per dollar in the week ending Aug. 23. However, gold prices and bonds rallied.
Here are the top losers and gainers of the week:
BHARTI AIRTEL: India’s top telecom service provider was the worst Sensex performer with a weekly loss of 8 percent, taking its losses for the month to over 10 percent.
Nomura, which maintains a neutral rating on the stock with a target price of 315 rupees, said in a research note on Aug. 21 that financial leverage and inadequate infrastructure are challenges for the company.