Stock Market Highlights: Nifty, Sensex Recoup Weekly Losses; Dr Reddy's, IndusInd Bank Top Gainers

The NSE Nifty 50 and BSE Sensex ended Friday's session higher as Mahindra & Mahindra Ltd. and ICICI Bank Ltd. share prices lead. The Nifty 50 ended with gains for second day in a row. The benchmark indices recouped weekly losses.

The Nifty 50 ended 63.20 points or 0.27% higher at 23,813.40, and the Sensex ended 226.59 points or 0.29% higher at 78,699.07.

A few hours into Friday's session, the Nifty 50 had risen 0.79% to the day's high of 23,801.40, and the Sensex had climbed 0.73% to the day's high of 79,043.15.

The benchmark indices pared most gains as the session advanced. A sharp decline in the Indian currency also weighed on the investors' sentiment.

“Despite ending higher for the second straight session, markets lacked conviction as indices came off their early highs amid late profit-taking in several sectoral stocks. The mood remains that of caution as foreign investors have not softened their stance on Indian equities with rupee's record fall against the dollar continuing to create uncertainty amongst the investors," said Prashanth Tapse, senior vice president of research at Mehta Equities Ltd.

"The Christmas week trading ended on a subdued note; a lack of major triggers and caution ahead of the swearing of US Republican Party administration continued to impact the sentiment. The rupee dropped to a new low, weighed down by the expectation of fewer Fed rate cuts, a widening trade deficit, and weak economic growth. The auto index outperformed, aided by an expectation of a pickup in volumes in December and comfort in valuation," said Vinod Nair, head of research at Geojit Financial Services Ltd.

ICICI Bank Ltd., HDFC Bank Ltd., Reliance Industries Ltd., Bajaj Auto Ltd., and ITC Ltd. added to Nifty 50.

Apollo Hospitals Enterprise Ltd., HCLTech Ltd., Dr. Reddy's Laboratories Ltd., and Titan Co. Ltd. were among the stocks that dragged the benchmark index.

On the NSE, seven sectors advanced and five declined. The NSE Nifty Pharma gained the most, whereas the NSE Nifty Metal logged the sharpest decline.

Broader indices were mixed, as the BSE Midcap underperformed and closed 0.1% lower, while BSE Smallcap rose around 0.3%.

Twelve out of 21 sectoral indices on the BSE fell and the rest gained. The BSE Metal fell the most.

Market breadth was skewed in the favour of sellers. As many as 2,027 stocks fell, 1,942 advanced, and 119 remained unchanged on the BSE.

On weekly basis, the benchmark indices recouped losses. The Nifty 50 and Sensex ended 0.96% and 0.84% higher, respectively in the week ended on Dec. 27.

This week on NSE, eight sectors advanced and four declined out of 12. The NSE Nifty Media declined the most, while the NSE Nifty Auto rose the most.

The NSE Nifty Auto, NSE Nifty Oil and Gas, NSE Nifty Banks snapped two weeks losing streak.