winning streak for a fourth consecutive week to hit new all-time highs --the best such streak in three months. The frontline indices Sensex and Nifty 50 hit fresh record highs in the previous session at 22,525.65 and 74,245.17 respectively and also gained about three per cent each in four weeks.
Also Read: Interest rates on small savings schemes unchanged for Q1 FY25; Check rates for NSC, Sukanya Samriddhi, others The NSE Nifty 50 settled the week at 22,493.55, while Sensex ended the week at 74,119.39. Most sectors traded in green with maximum gains in Banks, Metals and Energy, while, Media, IT and healthcare ended the week in red.
Bank Nifty outperformed this week and is poised to reach fresh highs. According to Santosh Meena, Head of Research, Swastika Investmart Ltd, the regulatory concerns regarding excessive enthusiasm and profit booking in the midcap and smallcap space, coupled with recent actions on certain NBFCs and city gas distributors, dampened investor sentiment last week.
The domestically-focussed small-caps dropped 2.18 per cent, while the broader mid-caps added 0.36 per cent-- both underperforming the blue-chip indexes on concerns over excessive fund inflows and stretched valuations. Vinod Nair, Head of Research, Geojit Financial Services said, ‘’Amidst mixed signals from the global market, the domestic market exhibited a range bound movement but concluded on a positive note.
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