Closing Bell: Indian Markets Clock Worst Week in Over Seven Months

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai.

(Photo: Reuters)

Sensex and Nifty registered their worst performance over a week’s period in over seven months, despite opening higher in the opening session on Friday, 10 May. The markets ended lower for the third consecutive week.

The S&P BSE Sensex closed 3.9 percent lower this week to end at 37,462.99 and the NSE Nifty 50 ended at 11,278.90, down 3.7 percent.

The broader market index represented by the NSE Nifty 500 Index closed 3.5 percent lower during the period.

The benchmark indices extended fall for the eighth consecutive trading session. Today, the 31-share index and the 50-stock index closed lower by 0.26 percent, BloombergQuint reported.

The markets were trading flat with a positive bias on a volatile day as investors keenly await US-China trade negotiation outcome, Business Standard reported.

Friday’s improved opening came after the Indian equity benchmark indices had seen a depreciation for seven straight trading sessions.

The S&P BSE Sensex rose as much as 0.37 percent to 37,698.23 in the opening trade and the NSE Nifty 50 rose as much as 0.34 percent to 11,340.55.

The market breadth was tilted in favour of buyers. About 795 stocks advanced and 532 shares declined on the National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Media Index’s 1.3 percent gain. On the flipside, the NSE Nifty It Index was the top sectoral loser, down 0.16 percent.

Reliance Industries, ICICI Bank, TCS, HDFC and SBI were the top contributors towards a higher opening on the Sensex.

The Indian rupee opened lower against the US dollar on Friday, with the home currency depreciating as much as 0.15 percent to 70.05 against the greenback.

(With inputs from BloomberQuint and CNBC-TV18.)