Sensex, Nifty log longest weekly losing streak since 2020
India Today
Nifty 50 index closed 0.16 per cent lower at 15,782.15 and the S&P BSE Sensex fell 0.26 per cent to 52,793.62, having risen more than 1 per cent earlier in the session.
Sensex and Nifty ended lower for a sixth straight session on Friday, reversing from earlier gains. Both benchmark indexes of share market logged their fifth straight week of losses, the longest weekly losing streak since 2020, according to Reuters report.
The NSE Nifty 50 index closed 0.16 per cent lower at 15,782.15 and the S&P BSE Sensex fell 0.26 per cent to 52,793.62, having risen more than 1 per cent earlier in the session.
Sentiment was also weighed down by higher oil prices, which pressure the trade and current account deficits of India - the world's third-largest importer and consumer of oil.
Foreign investors sold $1.81 billion worth Indian equities this week, compared with outflows of worth $635 million in the previous week.
Data on Thursday showed India's annual retail inflation rose by a more-than-expected 7.79 per cent in April, staying above the central bank's tolerance band of 6% for a fourth straight month.
Conglomerate Reliance Industries - India's most valuable company - closed 1.1 per cent higher to snap a nine-day losing streak.
Bajaj Finance and Bajaj Finserv were among the top drags on the Nifty 50, falling 1.4 per cent and 1.9 per cent, respectively.
