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Share Market Live: Sensex, Nifty Set To Log Gains For Fourth Week - BloombergQuint

Source: BloombergQuint

India's stock benchmarks rose for the fourth consecutive week, the longest winning streak since the week ended September 24, 2021, aided by gains in energy, realty, psu banks and metal stocks.On Friday's session, the S&P BSE Sensex and NSE Nifty 50 snapped a five-day winning streak, closing with marginal losses. Sensex erased intraday losses to close little changed at 61,223.03. The Nifty 50 also closed flat at 18,255.

 
75. Both the measures shed over 0.75% in intraday trade.Asian Paints Ltd. had the largest drop, falling 2.7%. Today, 29 of 50 shares fell, while 20 rose.
 
The broader indices outperformed their larger peers with S&P BSE MidCap added 0.22% and S&P BSE SmallCap rising 0.5%. Eleven of the 19 sectoral indices compiled by BSE Ltd. rose with S&P BSE Capital Goods gaining nearly 1.
 
5%.The market breadth was skewed in the favour of bulls. About 2,060 stocks advanced, 1,346 declined and 97 remained unchanged."Nifty, after five days of continuous positive close, ended the day on weak note with miniscule loss at 18,256 levels", noted Siddhartha Khemka. The head - retail research at Motilal Oswal Financial Services Ltd.
 
added "record high inflation in US is dampening the sentiments in other wise positive macro data environment. Moreover, Markets have recovered sharply by more than 10% from its recent lows of 16,400 levels in just 20 days. Valuations are no longer cheap and require strong earnings delivery for sustenance of positive momentum in the market".