MUMBAI: India’s equity benchmarks fell on Friday as financials and IT stocks came under profit-booking, but still marked a third straight week of gains after a US rate cut, local tax reductions and optimism over trade talks with Washington.
The Nifty 50 eased 0.38 percent to 25,327.05 and the BSE Sensex lost 0.47 percent to 82,626.23 on Friday.
The two indexes added 0.9 percent each for the week.
Fourteen of the 16 major sectors rose for the week. The broader small-caps and midcaps gained 2.9 percent and 1.5 percent, respectively.
“We have seen a good rally in the past few sessions driven by multiple factors, indicating a marked shift in market sentiment ... the overall undertone remains bullish,” said Aamar Deo Singh, senior vice president at Angel One.
The US Federal Reserve cut interest rates by 25 basis points on Wednesday in a widely-anticipated decision.
Comments
Comments are closed for this article.