Tata Motors plunged 9.43%.
By R. Chandrasekaran
Indian stocks listed in the U.S. stock exchanges continued its downtrend in the week ended March 22 as the European Union’s debt crisis returned to haunt investors’ sentiments following the financial troubles in Cyprus. WNS (Holdings) slipped in to the red in the weekly closing for the second time this year.
The bad performer among the Indian stocks during the week was automobile major Tata Motors that plunged 9.43 percent. This is followed by Sterlite Industries by 6.11 percent. Incidentally, both the stocks are the poor performers in 2013 with a loss of 13.72 percent and 19.63 percent, respectively.
Financial stocks are the next worst sufferers as HDFC Bank and ICICI Bank shed 5.39 percent and 4.17 percent, respectively for the week and lost 10.36 percent and 7.25 percent for the year.
Among the IT stocks, Cognizant Technology Solutions dropped 4.42 percent, while Infosys shed 2.28 percent and Wipro edged lower by 0.10 percent during the week. Cognizant Technology, which was the strong performer last year, could manage only 1.38 percent gain so far in 2013, whereas Infosys advanced 23.81 percent and Wipro gained 13.13 percent in the current year.
BPO Company, WNS (Holdings), which is the top gainer for the year by 40.94 percent, ended the week lower by 1.74 percent, its second weekly loss in 2013. Dr. Reddy’s Laboratories too suffered a loss of 3.66 percent for the week, whereas Rediff.com remained flat.
In comparison, the major indices, the S&P 500, the Dow Jones Industrial Averages and the NASDAQ shed 0.24 percent, 0.01 percent and 0.13 percent, respectively in the week ended March 22.
Comparison of Stocks closing price for the week ended March 22, 2013 vs. March 15, 2013 |
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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 |
74.9 |
78.36 |
-4.42% |
73.88 |
1.38% |
Infosys |
52.37 |
53.59 |
-2.28% |
42.3 |
23.81% |
Wipro |
9.91 |
9.92 |
-0.10% |
8.76 |
13.13% |
WNS (Holdings) |
14.7 |
14.96 |
-1.74% |
10.43 |
40.94% |
HDFC Bank |
36.5 |
38.58 |
-5.39% |
40.72 |
-10.36% |
ICICI Bank |
40.45 |
42.21 |
-4.17% |
43.61 |
-7.25% |
Tata Motors |
24.78 |
27.36 |
-9.43% |
28.72 |
-13.72% |
Dr. Reddy’s Laboratories |
32.13 |
33.35 |
-3.66% |
33.29 |
-3.48% |
Sterlite Industries |
6.92 |
7.37 |
-6.11% |
8.61 |
-19.63% |
Rediff.com |
2.74 |
2.74 |
0.00% |
2.85 |
-3.86% |
S&P 500 |
1556.89 |
1560.7 |
-0.24% |
1426.19 |
9.16% |
Dow Jones Industrial Averages |
14512.03 |
14514.11 |
-0.01% |
13104.14 |
10.74% |
Nasdaq |
3245 |
3249.07 |
-0.13% |
3019.51 |
7.47% |