Overall Indian stocks plummet; Sterlite Industries, ICICI Bank lose ground.
Bureau Report
NEW YORK: Indian companies’ stocks performed poorly in the U.S. stock exchanges during the week ended February 8. However, WNS Holdings continues to be in the limelight outperforming the major stock indices, while all other stocks closed in the negative territory.
Technology stocks performed better in the U.S. bourses as both the S&P 500 and NASDAQ benefited from technology stocks’ performance, whereas the Dow Jones Industrial Averages finished in the red indicating weak sentiments.
However, it was not only technology stocks that underperformed compared to the major indices, even the financials, automobiles and pharma stocks took a beating as investors preferred to lock profits at higher levels.
BPO company WNS Holdings alone advanced 2.11 percent during the week, while the worst performer is Sterlite Industries that plummeted 9.79 percent.
In the financial category, ICICI Bank stock dropped 8.96 percent, while HDFC Bank slipped 5.77 percent. Similarly, Tata Motors skid 2.87 percent, while Dr. Reddy’s Laboratories slipped 3.61 percent.
In the technology space, Rediff.com shed 2.03 percent, while Infosys, Wipro and Cognizant Technology Solutions lost 0.81 percent, 0.63 percent, and 0.32 percent, respectively.
However, the S&P 500 advanced 0.31 percent to settle the week at 1517.93 points compared to 1513.17 points, while the NASDAQ edged up by 0.46 percent to end at 3,193.87 points. But the Dow Jones Industrial Averages shed 0.12 percent to 13,992.87 points during the week.
For the year-to-date too, WNS Holdings is the top performer gaining 29.72 percent followed by Infosys by 23.85 percent. Four stocks outperformed the major indices, while five stocks underperformed and one stock performed on the lines of market. The worst performer is Sterlite Industries having lost 10.1 percent followed by Tata Motors by 5.78 percent and HDFC Bank by 5.77 percent.
Comparison of stocks closing price for the week ended Feb. 8 vs. Feb. 1 |
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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 |
78.73 |
78.98 |
-0.32% |
73.88 |
6.56% |
Infosys |
52.39 |
52.82 |
-0.81% |
42.3 |
23.85% |
Wipro |
9.49 |
9.55 |
-0.63% |
8.76 |
8.33% |
WNS (Holdings) |
13.53 |
13.25 |
2.11% |
10.43 |
29.72% |
HDFC Bank |
38.37 |
40.72 |
-5.77% |
40.72 |
-5.77% |
ICICI Bank |
43.48 |
47.76 |
-8.96% |
43.61 |
-0.30% |
Tata Motors |
27.06 |
27.86 |
-2.87% |
28.72 |
-5.78% |
Dr. Reddy’s Laboratories |
35.25 |
36.57 |
-3.61% |
33.29 |
5.89% |
Sterlite Industries |
7.74 |
8.58 |
-9.79% |
8.61 |
-10.10% |
Rediff.com |
2.9 |
2.96 |
-2.03% |
2.85 |
1.75% |
S&P 500 |
1517.93 |
1513.17 |
0.31% |
1426.19 |
6.43% |
Dow Jones Industrial Averages |
13992.87 |
14009.79 |
-0.12% |
13104.14 |
6.78% |
Nasdaq |
3193.87 |
3179.1 |
0.46% |
3019.51 |
5.77% |