MUMBAI: India’s equity benchmarks logged their biggest weekly gains in more than three months, driven by IT and bank stocks as buoyant sentiment ahead of the earnings season drew in foreign investors.
The Nifty 50 and the BSE Sensex added around 1.6 percent each this week, marking their best performance in three months. On the day, they rose 0.4 percent each to 25,285.35 and 82,500.82 points, respectively.
Twelve of the 16 major sectors rose during the week. The broader mid-caps and small-caps gained 2.1 percent and 1.4 percent, respectively.
Foreign investors bought Indian shares worth 18.5 billion rupees (USD208.59 million) till Thursday this week amid a narrowing valuation gap with emerging market peers, prospects of an India-US trade deal, and hopes of earnings revival.
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