snapped its longest weekly winning streak in six years, over profit booking at record high levels earlier in the week. On the weekly front, the BSE benchmark declined 376.79 points or 0.52 per cent and the Nifty dipped 107.25 points or 0.49 per cent - dragged by the fall in recent outperformers like financials and auto stocks.
The BSE Midcap index lost almost a per cent, while the BSE Smallcap index declined by about 0.2 per cent this week. Also Read: Over 50 smallcap stocks log double-digit growth even as Sensex snaps longest weekly winning run in 6 years The blue-chip indexes had gained 12.65 per cent and 12.07 per cent over the last seven weeks, aided by strong domestic macroeconomic data, a return of foreign inflows due to improving US rate outlook and moderation in oil prices.
On Friday, the frontline indices closed in the positive territory for the second consecutive session on gains led by IT heavyweights, including Infosys, HCL Tech and Wipro, amid mixed global cues. Sensex closed with a gain of 242 points, or 0.34 per cent, at 71,106.96 while the Nifty 50 ended the day 94 points, or 0.44 per cent, higher at 21,349.40 on Friday.
This month, the surge in domestic equities closely follows Fed Chair Jerome Powell's acknowledgment of the risks of delaying rate cuts, bolstering expectations of a 25 basis points (bps) rate cut by March and fueling a rally across global stock markets. Going forward, a busy week awaits the primary market as a string of new initial public offerings (IPO) and listings are slated across the mainboard and small-and-medium enterprises (SME) segments.
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