Indian indices ended in the red for the second consecutive week with both Nifty and Sensex ending around 0.2 percent. Losses in auto, IT stocks were offset by gains in metals and financials.
The sentiment was also dented by a slowing pace of vaccination in some states and a global spread of the Delta variant of COVID-19. Also, investors remain cautious ahead of the June quarter earnings season. Broader markets, however, outperformed benchmarks with the midcap index up 1 percent.
In Friday’s session, Indian benchmark indices closed lower for the second straight session amid cautious global sentiment. While the midcaps outperformed peers, financials were under the pressure. The Sensex plunged 182 points to end at 52,386, and the Nifty 50 lost 38 points to settle at 15,689.Among sectors, while realty and metal gained the most, auto and PSU Bank were the top losing indices for the week.
Meanwhile, Bajaj Finserv along with metal names including Tata Steel, Hindalco were the top gainers for the week whereas Tata Motors, Bajaj Auto, TCS, Tech Mahindra and RIL were the top Nifty losers.