Stock Market Highlights: Nifty Posts Best Streak In A Year; Sensex Ends On High Note

The Nifty ended in the green for the eighth consecutive session on Friday, marking its longest winning streak in over a year. On a weekly basis, both the Nifty and the Sensex posted a second week of rally.

The NSE Nifty 50 settled 108.5 points or 0.43% higher at 25,114 and the BSE Sensex closed 355.97 points or 0.44% up at 81,904.7. The Nifty rose as much as 0.54% during the day to 25,139.45, while the Sensex was also up 0.54% to 81,992.85.

The index appears to be consolidating its recent gains, gradually forming a base. As long as it sustains above 24,850, the undertone remains constructive, according to Rupak De, senior technical analyst at LKP Securities.

In terms of points contribution, ICICI Bank Ltd., Bajaj Finance Ltd., Reliance Industries Ltd., Infosys Ltd. and Bharat Electronics Ltd. contributed the most to the gains in the Nifty.

Eternal Ltd., Hindustan Unilever Ltd., Bharti Airtel Ltd., HDFC Bank Ltd. and ITC Ltd. weighed the most.

Eleven out of the 15 sectors on the National Stock Exchange closed in the green, with the Nifty Defence, Metal and Finance leading the gains. The Nifty FMCG, Media, Consumption and PSU Bank ended in the red.

The BSE Midcap ended 0.09% higher, while the SmallCap closed 0.27% lower.

The market breadth was skewed in favour of the sellers as 1,134 stocks declined, 1,085 advanced and 35 remained unchanged on the BSE.

• Nifty Midcap 150 and Small Cap 250 gains for sixth consecutive session.

• Nifty FMCG snaps three-day gaining streak.

• Nifty Pharma gains for fourth consecutive day.

• Nifty Metal gains sixth session in a row.

• Nifty Financials gains for eighth consecutive session.

• Nifty Auto snaps three-day losing streak.

The Indian rupee closed 16 paise stronger at 88.28 against the US dollar on Friday, according to Bloomberg data. Intraday, the rupee was up 19 paise to 88.26 against the greenback. On Thursday, it had closed at 88.44 a dollar.