Indian markets snapped the two-week losing streak and bounced back this week as the government came into action to battle the current economic slowdown. The benchmark S&P BSE Sensex rose 631 points, or 1.7%, to end at 37,332 during the week ended 30 August, while Nifty jumped 193 points, or 1.8%, to 11,023. Here are the top five gainers and losers for the week:
TOP 5 GAINERS
Britannia Industries: Britannia industries Ltd shares jumped 9.5% over the past one week as the company reported 6% revenue growth in the June quarter and hinted at taking a price hike at a time when other biscuit players are complaining of slowdown.
HPCL: Hindustan Petroleum Corp. Ltd (HPCL) shares rallied 9.2% this week taking comfort from declining crude oil prices.
BPCL: Bharat Petroleum Corp. Ltd (BPCL) shares gained 7.9% during the week as the company announced plans to invest Rs 1,500-1,700 crore in building a floating liquefied natural gas (LNG) import terminal at Krishnapatnam in Andhra Pradesh by 2022.
IndusInd Bank: IndusInd Bank shares bounced back 6.5% this week after falling 11% in the previous week.
Zee Entertainment: Zee Entertainment Enterprises Ltd gained 6.3% during the week amid a rally in media and entertainment stocks as the government approved 26% foreign direct investment (FDI) in digital media.
TOP 5 LOSERS
Bharti Airtel: Shares of Bharti Airtel Ltd dropped 2.7% over the past one week as Kenya's anti-corruption commission suspended a planned merger of Airtel Kenya with partly state-owned Telkom Kenya pending a probe into allegations about the misappropriation of public funds at Telkom.
Indiabulls Housing Finance: Shares of Indiabulls Housing Finance fell 2.67% this week as food and beverage giant Nestle India replaced the company on the Nifty50 index with effect from 27 September.
Kotak Mahindra Bank: Kotak Mahindra Bank Ltd shares were down 2.6% for the week due to daily gradual slippage in the stock price amid lack of any positive development.
Hero MotoCorp: Hero Motocorp Ltd shares fell 2.58% this week as investors remained wary of the ongoing sales slump even as the government announced a slew of measures for the ailing auto sector.
Reliance Industries: Shares of Reliance Industries slipped 2.1% in the last one week and were one of the top 5 weekly losers on the Nifty 50 index.
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