Stock Market Highlights: Nifty, Sensex Log Nearly 1% Weekly Decline; Realty Top Dragger
The NSE Nifty 50 ended 55.70 points or 0.22% higher at 25,461, while the BSE Sensex closed 193.42 points or 0.23% up at 83,432.89.
Benchmark indices broke a two-day losing streak to settle higher on Friday but on a weekly basis the Nifty 50 and Sensex declined over 0.75%.
The NSE Nifty 50 ended 55.70 points or 0.22% higher at 25,461, while the BSE Sensex closed 193.42 points or 0.23% up at 83,432.89.
This week, the broader market indices outperformed the benchmark indices, with the Nifty and Sensex experiencing declines after two consecutive weeks of gains.
Notably, Trent and Axis Bank were the biggest losers within the Nifty. The Nifty Realty sector saw a significant drop of over 2%, making it the worst-performing sector of the week, with Macrotech Developers Ltd. and Brigade Developers leading the declines.
On the other hand, the Nifty Pharma and PSU Bank indices both posted gains of more than 2%. Natco Pharma and Laurus Labs were the top performers in the Nifty Pharma sector. Additionally, the Nifty Midcap 150 and Smallcap 250 indices recorded gains for the second consecutive day, highlighting the strength in midcap and smallcap stocks.
Shares of Bajaj Finance Ltd., Infosys Ltd. and Dr. Reddy's Laboratories Ltd. were among the top gainers in the Nifty.
Trent Ltd., Tata Steel Ltd., Eicher Motors Ltd. and Tech Mahindra Ltd. were among the biggest laggards.
In terms of points contribution, ICICI Bank Ltd. and Infosys Ltd. were among the stocks that led the gains in the Nifty.
Trent Ltd. and Tata Steel Ltd. dragged the index the most
On NSE, 12 out of 15 sectors ended in the green, with Nifty Oil & Gas, Defence and Realty declining the most.
The broader market indices settled higher as the BSE MidCap gained 0.23% and SmallCap rose 0.16%.
The market breadth was skewed in the favour of buyers as 2,237 stocks advanced, 1,810 declined and 130 remained unchanged on the BSE
