Indian stock markets resumed their weekly declines after posting strong gains in the previous week. The benchmark S&P BSE Sensex fell 0.9% during the week ended September 6 to close at 36,981.77, while the Nifty 50 index lost 0.7% to settle at 10,946.20. Here are the top five gainers and losers for the recently-concluded week:
TOP 5 GAINERS
Coal India: Coal India Ltd shares were the biggest gainers in the Nifty pack, rising 7.5% this week. The company signed MOUs with two Russian entities this week in the areas of coking coal mining in the Russian Far East and the Arctic Region.
Dr Reddy’s Labs: Dr Reddy’s Laboratories Ltd shares jumped 7.1% during the week after the pharma company launched Bupropion Hydrochloride extended-release tablets, a non-nicotine aid to smoking cessation, in the US market.
BPCL: Shares of Bharat Petroleum Corp. Ltd (BPCL) gained 6.7% this week after media reports said that the central government was planning to offload its entire stake worth a little more than Rs 40,000 crore in the company.
ONGC: Shares of Oil and Natural Gas Corp. Ltd (ONGC) shot up 5.6% this week after the company issued a clarification on the fire accident that took place on 3 September at its Uran processing unit, saying the impact of fire in local vicinity was nil and the offshore crude supply would not be affected.
NTPC: NTPC Ltd shares rose 4.4% during the week. The company was in the news as it announced that it has paid final dividend of Rs 2,473.63 crore for 2018-19 to its shareholders, which is equivalent to one-fourth of its equity share capital.
TOP 5 LOSERS
Indiabulls Housing Finance: Indiabulls Housing Finance Ltd shares declined 6.5% this week after reports surfaced that a public interest litigation (PIL) has been filed against the company and its promoters in the Delhi High Court alleging siphoning-off of funds.
HDFC: Shares of Housing Development Finance Corp. Ltd (HDFC) were down 5.8% this week, with most of the declines coming on 3 September when the markets tumbled 2% weighed down by selling in banking stocks. The stock had fallen 4% in that session.
Sun Pharma: Sun Pharmaceutical Industries Ltd shares dropped 5.6% during the week as the company admitted that forensic audit has been ordered by market regulator SEBI into the financial statements of the company for fiscal years 2015-16, 2016-17 and 2017-18.
Asian Paints: Asian Paints Ltd shares corrected 5.2% during the week on some profit-booking after witnessing continuous uptrend since July.
IndusInd Bank: IndusInd Bank shares have fallen 4.6% this week to become one of the top five losers, after rising 6.5% in the previous week when it was one of the top five gainers in the Nifty pack.
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