Sensex, Nifty End Lower But Manage To Eke Out Weekly Gains
Three-Day Winning Streak Ends
Indian equities snapped a three-day winning streak after falling off the day's high amidst rising bond yields.
The S&P BSE Sensex ended 1% lower at 50,792. The index fell over 1,000 points from the day's high. The NSE Nifty 50 index too fell 1% to end at 15,030. The 50-stock gauge fell over 300 points from the highest point of the day.
Despite today's decline, the Sensex and Nifty managed to eke out weekly gains of 0.7% each.
All sectoral indices ended lower in today's session. The Nifty Bank index declined 1,000 points from the day's high to end 1.2% lower at 35,496. The PSU Bank index too ended 1.7% lower in today's session.
Another index that declined a similar quantum was the Nifty Auto index, which ended 1.7% lower. The Nifty Pharma and Nifty FMCG indices fell 1% each while the Media and Metal indices declined 0.9% each.
Broader markets had a mixed day. The Nifty Midcap index fell 0.4% while the Smallcap index ended the day with gains of 0.5% each.
The India Volatility Index ended 4.6% higher at 21.7.
1,126 stocks on the NSE ended the day with losses while the 780 stocks posted gains.