Stock Market Highlights: Nifty, Sensex Gain Over 1% This Week; RIL, M&M Lead Gains
Eleven out of the 15 sectors on the NSE closed in the green, with the Nifty Auto, Metal and Media being the top gainers.
The benchmark equity indices ended flat on Friday after a see-saw trade as the markets had a mixed reaction to the overhaul in the goods and services tax.
The NSE Nifty 50 settled 6.7 points or 0.03% higher at 24,741 and the BSE Sensex closed 7.25 points or 0.01% lower at 80,710.76 on Friday. The Nifty fell much as 0.46% during the day, while the Sensex dropped 0.49%
The benchmark indices gained over 1% on a weekly basis, with most sectoral indices closing in the green.
The Nifty Metal emerged as the top performer, gaining over 5%. The Nifty Auto also surged by more than 5%. The standout performer within the auto sector was Mahindra & Mahindra Ltd, which saw its share price jump by over 11%, marking its best weekly gain since June 2024.
The Nifty PSU Bank, Financials and Nifty Bank all snapped their two-week losing streaks, indicating a broad-based recovery. The positive sentiment also extended to the Nifty Realty, which recorded its third consecutive week of gains.
In terms of points contribution, Reliance Industries Ltd., Mahinda & Mahindra Ltd. and Bharti Airtel Ltd. contributed the most to the gains in the Nifty.
Eleven out of the 15 sectors on the NSE closed in the green, with the Nifty Auto, Metal and Media being the top gainers.
The BSE Midcap ended 0.10% lower and the SmallCap closed 0.09% higher.
The market breadth was skewed in favour of the buyers as 2,173 stocks gained, 1,920 declined and 167 remained unchanged on the BSE.
