Indian stock markets had a great run last week on the back of heavy buying by Foreign Institutional Investors (FIIs) and earnings that matched expectations. Global developments like progress in the US-China trade talks and a step ahead for the Brexit deal also fueled the rally. During the week ended 18 October, the benchmark S&P BSE Sensex rose 1,171.3 points, or 3.07% to end at 39,298.38, while the Nifty 50 index added 356.8 points, or 3.15%, to end at 11,661.85. Here are the top gainers and losers for the week:
Top 5 Gainers
Yes Bank: Yes Bank Ltd shares surged by 29.8% this week after media reports suggested that industrialists Sunil Mittal and Sunil Munjal have envisaged interest in acquiring a stake in the private lender.
Tata Motors: Tata Motors Ltd shares advanced by 12.8% during the week as sentiment over business outlook improved after Britain and the EU reached a new Brexit deal.
Eicher Motors: Eicher Motors Ltd gained 11.4% this week after global brokerage firm UBS upgraded its rating on the stock to ‘buy’ from ‘sell’ and also raised target price to Rs 23,000, citing likely volume growth in second half of this financial year.
ONGC: Shares of Oil and Natural Gas Corp. Ltd (ONGC) jumped by 11.2% after ONGC Videsh, the overseas arm of the company, made a major gas discovery in Brazil and an oil discovery in Colombia.
Indiabulls Housing Finance: Indiabulls Housing Finance Ltd closed the week up by 10.2% after the company offered pre-mature redemption of all non-convertible debentures (NCDs) maturing in November and December this year.
Infosys: On a weekly basis, Infosys Ltd was the sole loser among the Nifty pack, down 5.8% this week, after the company reported a 6% sequential rise in net profit to Rs 4,019 crore for the September quarter, while revenue increased to Rs 22,629 crore, up 3.8% sequentially.