Nifty 50 Snaps Eight-Day Winning Streak, But Logs Weekly Gains: Market Wrap


The Nifty 50 snapped its longest winning streak in 21 months even as it gained for the fifth week in a row, aided by FMCG and energy stocks.

The Nifty 50 lost more than 1% to close at 17,758.45. The index had gained in the last seven sessions.

For the week ended Aug. 19, it gained 0.3%.

On Friday, six of the Nifty 50 stocks advanced, while 44 declined.

IndusInd Bank Ltd., Bajaj Finserv Ltd., Apollo Hospitals Enterprise Ltd., Tata Motors Ltd. and Tata Consumer Products Ltd. were among the top laggards.

Realty, FMCG, media and information technology stocks gained, while PSU banks and pharma stocks declined in the week.

On Friday, the Sensex fell more than 650 points to close at 59,646.15. The gauge snapped a five-day winning streak.

The broader indices mirrored their larger peers. Barring power, utilities and teck, all the other 16 sectoral measures compiled by BSE Ltd. declined, with realty losing 2%.

The market breadth was skewed in favour of bears. About 1,426 stocks advanced, 1,981 declined and 121 remained unchanged.


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