Sensex, Nifty Post Second Straight Weekly Loss; Metals, FMCG Shine
Rebound From Lows
Indian equities staged a rebound from their lowest level in nearly two months, heading into an extended weekend on a positive note.
The S&P BSE Sensex ended 1.2% higher at 49,008 while the NSE Nifty 50 index rose 1.3% to close at 14,507. However, today's gains were not enough to prevent the benchmark indices from posting their second straight weekly loss.
For the week, the Sensex fell 1.7% while the Nifty reported losses of 1.6%.
Metals were the top performers in today's trading session. The Nifty Metal index ended with gains of 3.7%. FMCG and Auto stocks were the other major gainers. The FMCG index rose 1.8% while the Auto index reported gains of 1.2% on the final trading day of the week.
The Nifty Bank also saw gains of 300 points to end at 33,018 while the PSU Bank index ended 0.8% higher. Media stocks were the underperformers in today's session with the index ending little changed.
Broader markets also ended the session with gains. The Midcap index outperformed, ending the day 1.5% higher while the Smallcap index moved in-tandem with the benchmarks, rising 1.2%.
The India Volatility Index fell 9% to end at 20.65.
1,145 stocks on the NSE ended with gains in today's session while 741 stocks reported losses.