Markets are set to post their third consecutive weekly gain, with the Nifty and Sensex up 0.4% each, but Friday’s sell-off dragged the Nifty below 25,200 as the benchmarks snapped a three-day winning streak.
Despite Friday’s decline, the markets gained for the third consecutive week, marking the first such weekly rise since June 2026. The Sensex and Nifty advanced 0.4% each, while the Nifty Bank rose 3% and the midcap index gained 2%. The PSU Bank index led the weekly gains, climbing 8%, while IT was the worst performer, falling more than 3%.
Among Nifty stocks, SBI, HDFC Life, BSE, Bajaj Finance and Trent were the top weekly gainers, while Grasim, HCL Technologies, Infosys, TCS and Tech Mahindra were the biggest losers.
On Friday, Eicher Motors ended as the top Nifty gainer ahead of its results, while Tata Motors Passenger Vehicles fell 3% ahead of its Q2 earnings. Grasim slipped more than 2% after its results missed margin estimates. Rising crude prices weighed on paint, airline and oil marketing stocks, with IndiGo falling 1% and HPCL losing 2%. Muthoot Finance and Manappuram Finance declined 3% each as gold prices slipped.
Vodafone Idea shed 3% amid expectations of continued high marketing spends. In contrast, capital goods stocks gained as buying interest in AI-related stocks lifted the sector. Hitachi Energy surged 11% on strong order inflows and a healthy outlook, while Amber Enterprises rose 9% after reporting higher-than-expected revenue growth. PB Fintech gained 5% amid reports that IRDAI may issue another draft paper on distribution.