The top gainers: The largest gainers in the Sensex were TCS (up 9.9%), Satyam (up 7.9%) and Infosys (up 3.6%).
The top losers: The largest losers in Sensex were Tata Motors (down 33.2%), Hindalco (down 32.1%), DLF (down 29.9%), Tata Steel (down 28.1%) and Ranbaxy (down 26.6%).
The BSE IT Index (up 2.4%): In such a disastrous week, the BSE IT index out performed the main indices and turned out being the only index to finish the week with handsome gains.
The largest gainers in IT space were TCS (up 9.9%), Satyam (up 7.9%), Infosys (up 3.6%), Mphasis (up 1.7%) and Oracle Financials (up 0.5%).
On the other hand, the largest losers were Financial Tech (down 21.5%), Patni (down 14.2%), HCL (down 12.7%), Wipro (down 8.7%) and Sasken Communication (down 2%).
The Realty Sector (down 31%): The BSE Realty index was the worst hit sector. The largest losers in the real estate space were Unitech (down 61.1%), Parsvnath (down 36%), DLF (down 29.9%), Ansal Properties (down 22.5%), Anant Raj Industries (down 21%), Sobha Developers (down 14.6%), Peninsula Land (down 14.4%) and Mahindra Lifespace (down 13%).
However, bucking the negative trend was HDIL, the stock rose over 9.4%. Akruti City up marginally by 0.3% during the week.
The Metals sector (down 24.3%): The metal stocks were under immense pressure on fears of demand destruction and steep correction in prices.
The top losers in the metals space were Jindal Stainless (down 35.5%), Tata Steel (down 28.1%), SAIL (down 26.2%), Jindal Steel (down 21%), Sunflag Iron (down 18.6%), Bhushan Steel (down 7.7%) and Bhuwalka Steel (down 6.6%).
The BSE Oil & Gas Index (down 20.5%): The top losers in the oil & gas sector were Essar Oil (down 28.7%), Jindal Drilling (down 28.1%), HOEC (down 27.2%), RPL (down 25%), IOC (down 15.4%) and ONGC (down 15.2%) and Reliance Industries fell 21.9%. The company announced that it posted a net profit after tax of Rs41.22bn in the quarter ended September 30, 2008 compared to Rs38.37bn in the same quarter a year earlier. Total income for the quarter increased to Rs449bn in the quarter ended September 30, 2008 from Rs322.11bn in the quarter ended September 30, 2007.
The BSE Auto Index (down 20%): The top losers in auto space were M&M (down 34.7%), Tata Motors (down 33.2%), Punjab Tractors (down 29%), Swaraj Mazda (down 16.5%), Maruti (down 16%), Eicher Motors (down 15.3%), Ashok Leyland (down 15.4%) and Bajaj Auto Ltd (down 11.2%).
The BSE Banking Index (down 16.2%): The top losers in the banking space were Kotak Bank (down 30.9%), Bank of India (down 24.1%), Allahabad Bank (down 22.3%), Andhra Bank (down 21.5%), ICICI Bank (down 21.2%), Axis Bank (down 13.1%) and IOB (down 13.1%).
The RBI left all policy rates unchanged and also kept the CRR and SLR norms steady.
The RBI maintained its repurchase rate (Repo Rate) at 8% after lowering the benchmark by 100bps on Oct. 20. It has also slashed the CRR by 250 basis points in the past fortnight to 6.5% and allowed a leeway of 1.5% on the SLR to ease the credit crunch in the local markets.
The BSE Healthcare Index (down 12.4%): The top losers in the pharma space were Orchid Chemical (down 29.6%), Glenmark Pharma (down 29.6%), Panacea Biotec (down 29.2%), Nicholas Piramal (down 27.5%) and Ranbaxy (down 26.6%).
The BSE Capital Goods Index (down 8.7%): The top losers in capital goods space were Jyoti Structures (down 26.9%), Aban Offshore (down 25.7%), ABB (down 22.7%), Praj Industries (down 20.1%) and Gammon India (down 15.1%).
On the other hand, among the major gainers was Alfa-Laval India. The stock was up by over 23% during the week after its parent company announced a public offer to increase its share in Alfa Laval (India) Ltd. The intention is to increase the holding with approximately 13% to approximately 90% through this offer.
Among the other major gainers were Kirloskar Brothers (up 20.4%), SKF India (up 16.4%) and Esab India (up 0.4%).
The BSE Consumer Index: The largest losers in consumer durables were Samtel Color (down 17%), Su-Raj Diamonds (down 12%), MIRC Electronics (down 9.1%), Whirlpool (down 4.6%) and Blue Star (down 1.1%).
The Cement Sector: The top losers in the cement sector were Binani Industries (down 23.2%), Mangalam Cement (down 21.9%), Gujarat Sidhee (down 20.7%), JK Cements (down 20.6%), India Cements (down 19.9%), Prism Cement (down 15.1%) and Birla Corp Ltd (down 13.8%).
The Telecom Sector: The top losers among the telecom stocks were Idea (down 41.7%), Shyam Telecom (down 25%), WWIL (down 21.8%), Bharti Airtel (down 20.7%), RCom (down 17.5%), Tata Communication (down 16.4%) and TTML (down 16.1%).