Indian stocks in US bourses advance

Sterlite Industries reverse trend to move up.

Bureau Report

NEW YORK: All the Indian shares listed in the U.S. stock exchanges advanced in the week ended March 8 in tandem with the major indices. WNS (Holdings) and Infosys alone performed below the indices gain. Interestingly, Sterlite Industries moved up reversing the trend witnessed in the preceding four weeks.

Rediff.com was the top performer climbing 15.47 percent. The next significant gainer was Sterlite Industries by 8.23 percent following the rise in commodity prices. Financial stocks followed them with ICICI Bank and HDFC Bank reversing the two weekly losing streaks to advance 7.4 percent and 5.66 percent, respectively.

Similarly, Tata Motors too reversed two straight weekly losses to record a gain of 5.8 percent. Pharmaceutical stock Dr. Reddy’s Laboratories moved up by 4.21 percent after suffering losses in the preceding four weeks.

In the technology space, Cognizant Technology Solutions advanced 3.3 percent for the second continuous weekly closing, while Infosys and Wipro gained 2.02 percent and 4.66 percent, respectively, for the third straight week.

BPO company WNS (Holdings), which jumped 41.42 percent for the year and remains a top performer, edged up by 1.65 percent during the week.

The three major indices, the S&P 500, the Dow Jones Industrial Averages and the NASDAQ gained 2.17 percent, 2.18 percent and 2.35 percent, respectively in the week.

For the year-to-date, Infosys is the second best performer with a solid gain of 30.17 percent. Wipro followed it by 15.3 percent. Sterlite Industries continues to be the top loser with 12.89 percent loss. It was a mixed bag of fortunes for financial stock with ICICI Bank gaining 2.89 percent, whereas HDFC Bank shed 1.01 percent.

Comparison of Stocks closing price for the week ended March 8, 2013 Vs. March 1, 2013

Company name Closing price of current week Closing price of previous week % of up or down for current week closing price of last year YTD % of up or down
Cognizant Technology Solutions

80.51

77.94

3.30%

73.88

8.97%

Infosys

55.06

53.97

2.02%

42.3

30.17%

Wipro

10.1

9.65

4.66%

8.76

15.30%

WNS (Holdings)

14.75

14.51

1.65%

10.43

41.42%

HDFC Bank

40.31

38.15

5.66%

40.72

-1.01%

ICICI Bank

44.87

41.78

7.40%

43.61

2.89%

Tata Motors

28.28

26.73

5.80%

28.72

-1.53%

Dr. Reddy’s Laboratories

33.38

32.03

4.21%

33.29

0.27%

Sterlite Industries

7.5

6.93

8.23%

8.61

-12.89%

Rediff.com

3.06

2.65

15.47%

2.85

7.37%

S&P 500

1551.18

1518.2

2.17%

1426.19

8.76%

Dow Jones Industrial Averages

14397.07

14089.66

2.18%

13104.14

9.87%

Nasdaq

3244.37

3169.74

2.35%

3019.51

7.45%

 

Leave a Comment

Your email address will not be published. Required fields are marked *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.