Equity benchmarks in Indian share market snapped three weeks winning streak and closed lower by more than 1% during the previous week amid weak global cues.
Indian indices ended the week slightly lower despite mixed global cues, largely supported by a continued decline in crude oil prices in addition to rupees appreciation to the dollar.
Nifty started the truncated week on a positive note and formed a weekly high of 10774 points on Monday's session. Profit booking at higher levels saw the index gave up some of its recent gains and closed the week near its low at 10526 points level. Broader markets also consolidated in a range with corrective bias during the previous week as the Nifty Midcap and small-cap indices closed lower by 0.8% and 1.0% respectively.
The BSE Sensex closed at 34981, down by 476 points while the NSE Nifty closed at 10526, down by 155 points for the week.
Among the Nifty Constituents, Adani Ports, Dr Reddy and Zee Entertainment were the top gainers whereas Bajaj Auto, HCL Technologies, Hindalco, ICICI Bank, Infosys, IOC, JSW Steel, M&M, NTPC, Power Grid, Indiabulls Housing Finance, Tata Steel, TCS, Vedanta, and Tech Mahindra were the major draggers on the index.
From the commodity market, Brent crude oil prices closed lower at about US$ 63.2/barrel as compared to previous week's close of US$ 67.2/barrel. In the metals, Gold prices ended slightly higher at $1227/ounce as compared to last week's closing price of $1216/ounce.
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- Markets witnessed a sharp rebound during the previous week
- Benchmarks witnessed a sharp decline in the market last week