Sixth Weekly Gain For Sensex, Nifty; PSU Banks Outperform
Indian equity markets ended yet another week with gains, after trading in a narrow range for the last two sessions.
The S&P BSE Sensex ended 0.3% higher at 46,099 while the NSE Nifty 50 index ended above the mark of 13,500 - at 13,513, up 0.26%. This was the sixth straight weekly gain for the Sensex and Nifty.
The last instance of both benchmarks gaining for six straiht weeks was back in July this year.
Today was the day of the PSUs. Four out of the top five gainers on the Nifty were state-run companies. ONGC (up 5.5%), NTPC (up 5.1%), GAIL (up 5%) and Coal India (up 2.6%) feature on that list.
Among sectoral indices for today's session, it was the Metals and the PSU Bank index that outperformed. Both the indices gained 1% each. In fact, the PSU Bank index was also the best performing sectoral index for the week, ending with gains of nearly 8%.
The Nifty FMCG index saw yet another record high, ending with gains of 0.9%. The Realty and Media index ended with gains of 0.8% each.
Broader markets were mixed in today's session. While the midcap index moved in-line with the benchmarks, ending 0.2% higher, the Smallcap index outperformed with gains of 0.6%.
The India Volatility Index gained 0.6% to end at 18.82.
1,107 stocks on the Nifty ended with gains while 779 stocks declined.