Stock Fundamentals

Top Movers

| Updated on January 21, 2011 Published on January 17, 2011

Marked by wide intra-day swings, bellwether indices ended the week down 4.2 per cent, on the backs of high inflation and fears of rate hikes, while contending with low IIP numbers for November. Pressure on Portugal to consider financial help to manage debt also weighed on markets.

The BSE Sensex shed 831 points over the week, slipping below the 19,000 mark in Friday's trade, while the NSE Nifty lost 250 points. Broader markets shaved off 3.9 per cent by the close of the week. The BSE Midcap and BSE Smallcap indices also lost 3.3 and 3.9 per cent respectively.

Among sector indices, the BSE Bankex and Realty indices continued their poor run, losing 5.3 per cent by the close of the week. Other BSE sector indices which saw hefty losses include the Oil & Gas index, down 5.1 per cent and the PSU index, down 4.1 per cent. Indices that saw relatively tamer slides were the BSE FMCG, down 1.5 per cent and the Consumer Durables, down 2.5 per cent.

The stock of Bharati Shipyard plunged 10 per cent by the close of the week on reports that Shipping Corporation of India had threatened to cancel an Rs 90 crore order for the supply of vessel.

The stock of IT major Infosys tumbled 5 per cent during the week after it posted lower-than-expected results for the December quarter. Poor results led to the stock of SAIL losing 10 per cent and that of Goa Carbon losing 12 per cent for the week.

The stock of Tata Steel shed 6 per cent after the company approved a follow-on offer which will lead to an expected equity dilution of about 6 per cent.

Amid the heavy losers, select stocks did however close with gains. Pharma player Pfizer posted a healthy set of numbers for the December quarter, pushing the stock up 10 per cent.

The stock of Tata Coffee shot up 14 per cent after it signed an MoU with global coffee major, Starbucks, for the sourcing and roasting of coffee beans for the latter's entry in the Indian food retail market.

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