Markets mark longest weekly gaining streak since July

Equities ended marginally lower on Friday after a choppy session. The Nifty fell 18.05 points (0.14%) to close at 12,986.85 while the Sensex declined by 110.02 points (0.25%) to close at 44,149.72. However, stocks marked a fourth straight week of gains, the longest streak since July. During the week, the Sensex advanced 267.47 points or 0.60%, while the Nifty gained 109.90 points or 0.85%. The benchmarks have risen 11.5% in November alone.

Dhiraj Relli, MD and CEO, HDFC Securities, said: “The key thing to watch out for is the time services will take to come back to normal and whether manufacturing growth reflects restocking, pent-up demand or is reflective of normal demand conditions which have revived sustainably. Equity markets could open higher on Tuesday reflecting the positivity of the Q2 GDP numbers.”

Significant gainers on the Nifty were Tata Motors, Asian Paints, HeromotoCorp, Divi’s Laboratories and Bajaj Auto, up by 2.82%, 2.01%, 2%, 1.8% and 1.31%.

Notable losers were Nestle India, Powergrid Corporation, JSW Steel, Shree Cement and HCL Tech, down by 4.3%, 3.24%, 2.6%, 2.3% and 2.2%.

Foreign portfolio investors on Friday bought stocks worth $1 billion while domestic institutional investors sold stocks worth $653 million.

Markets Germany, the UK and France were up between 0.2% and 0.5%. The markets Hong Kong, South Korea and China gained between 0.28% and 1.14%.