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Indian equities ended lower for the sixth straight session, ahead of the Union Budget on Monday, matching its longest losing streak since September last year.
The S&P BSE Sensex ended 1.3% lower at 46,285. The index has corrected close to 4,000 points from its all-time high on January 21.
The NSE Nifty 50 index also fell 1.3% to end at 13,634. The index fell for the first time in all five sessions of the week since February last year. It has now declined over 1,000 points from its own all-time high. 43 out of the 50 index constituents ended with losses.
Both the benchmarks posted their second consecutive weekly loss. It is the first time that the Sensex and Nifty have declined for two straight weeks since May last year.
Banks outperformed for the second straight day on Friday. The Nifty Bank ended 0.7% higher at 30,565 while the PSU Bank index ended with gains of 1.7%. The Nifty Realty index was the only other sectoral gainer, ending 0.5% higher.
Selling pressure was seen in all other indices with the Nifty Auto and Nifty I.T. indices declining over 2.5% each. The Nifty Metal index fell 1.9% while the Nifty Pharma index fell 1.8% in today's session. The FMCG index too saw a drop of 1.5%.
Broader markets ended lower but the losses were modest as compared to the benchmark indices. The Midcap index ended 0.4% lower while the Smallcap index fell 0.6%.
India Volatility Index rose 4.3% to 25.34.
1,022 stocks on the NSE ended with losses while 858 stocks bucked the trend to close higher.
Dabur India's Q3 volume growth at 18.1%. #Q3WithBQ
— BloombergQuint (@BloombergQuint) January 29, 2021
Read other market updates: https://t.co/V9Bf5Q3RuJ pic.twitter.com/jRqrNe01aW
Q3 performance reflects continued profitable growth in a market gradually recovering from the impact of the pandemic, says Sun Pharma's Dilip Shanghvi. #Q3WithBQ
— BloombergQuint (@BloombergQuint) January 29, 2021
Read other market updates: https://t.co/V9Bf5Q3RuJ pic.twitter.com/1WTQbWonee
Indian Oil Corporation’s revenue rises 24.2%, quarter-on-quarter. #Q3WithBQ
— BloombergQuint (@BloombergQuint) January 29, 2021
Read other market updates: https://t.co/SMQznTmKU5 pic.twitter.com/M9atTSZvrE
Finance Minister Nirmala Sitharaman tables the #EconomicSurvey 2020-21 in the Lok Sabha.
— BloombergQuint (@BloombergQuint) January 29, 2021
Live blog: https://t.co/WgsURv2hzf pic.twitter.com/qBZdHJExmK
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Indian equities opened higher after five straight days of losses but are still set for back to back weekly declines.
The S&P BSE Sensex opened 1.2% higher at 47,423 while the NSE Nifty 50 index gained 0.9% to open at 13,946. The Sensex corrected over 3,300 points over the last five trading sessions.
Among the sectoral indices, the Nifty Bank index opened 350 points higher or 1.1% while the Auto index gained a similar quantum. The Media and PSU Bank indices are up 1.4% each while the Metal index has also opened with gains of over a percent.
Broader markets too have opened higher with the Midcap index opening with gains of 1.1% while the Smallcap index has gained 1% at the start of trade.
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