Indian benchmark stock indices managed to add over 1% this week mainly on the back of positive global cues after the US and China announced an initial trade agreement. In the week ended 13 December, the S&P Sensex rose 564.56 points, or 1.4% to end at 41,009.71, while the Nifty 50 jumped 166.20 points, or 1.38%, to 12,086.70. Here is a look at the top five gainers and losers for the week:
TOP 5 GAINERS
Tata Motors: Tata Motors Ltd shares surged 9.4% this week as outlook turned positive for its subsidiary JLR after UK Prime Minister Boris Johnson registered a big win, boosting chances of a swift Brexit.
Tata Steel: Tata Steel Ltd shares climbed 6.2% during the week amid a broader rally in metal stocks after US President Donald Trump tweeted that the US and China are “very close” to signing a “big” trade deal with China.
Eicher Motors: Eicher Motors Ltd recovered 5.3% this week after last week’s slump when the company reported disappointing motorcycle sales for the month of November 2019.
Vedanta: Vedanta Ltd shares gained 5.25% during the week as metal stocks rallied on potential US-China trade deal as mentioned earlier.
Hindalco: Hindalco Industries Ltd was also up 5.2% for the week, being one of the key gainers from the metal stocks pack.
TOP 5 LOSERS
Yes Bank: Yes Bank Ltd shares slumped 16.7% this week after the lender said its board failed to reach a final decision on potential investors at a meeting on Tuesday, though it favoured a $500 million offer from Citax Holdings Ltd.
Bharti Airtel: Bharti Airtel Ltd shares shed 3.8% during the week on reports that the Department of Telecommunications is set to hold the company liable for some of the adjusted gross revenue (AGR) dues that Videocon Telecommunications and Aircel owe the government, as the telco had bought some spectrum from the two carriers back in 2017.
HCL Tech: HCL Technologies Ltd shares were down 3% for the week as the rupee’s rise against the dollar dragged down IT stocks.
Bharti Infratel: Bharti Infratel Ltd shares slipped 2.8% this week even as the company’s board declared the second interim dividend of Rs 2.75 per equity share for the financial year 2019-20.
Zee Entertainment: Zee Entertainment Enterprises Ltd shares dropped 2.7% during the week as trading on the counter remained volatile after Punit Goenka was re-appointed as MD and CEO of the company.