Mumbai: Domestic benchmark indices managed to recoup most of the losses during Friday’s trading session to end the day flat. S&P BSE Sensex ended down 11 points while the Nifty 50 was just shy of the 11,200 mark. With this, domestic markets gained 3% during the week, considerably more than their global peers. This was the sixth consecutive week where Sensex and Nifty managed to advance on their gains. Analysts say that the weekly gain was led by the quarterly numbers that were announced during the week which were better than expected with companies coming with a positive outlook.
Top market movers: HCL Tech was the best performing stock on Sensex, gaining 4.2% during the day, followed by Reliance Industries, up 4.15% which was also one of the biggest contributors lifting the index higher. Private Sector lender Axis Bank slipped 3.32% and was closely followed by State Bank of India and ICICI Bank. All bank stocks, except IndusInd Bank were in the red. “Reliance Industries stock performance boosted the benchmark indices and helped limit further losses, while financials led the losses,” said Vinod Nair, Head of Research at Geojit Financial Services.
