Indian markets post 3rd straight weekly loss despite IT outperformance
Indian stock markets just wrapped up their third straight week in the red, the longest losing streak in five months.
FMCG and PSU stocks dragged things down, with Sensex, Nifty, and Nifty Bank all slipping about 0.5%.
But it wasn't all bad news: midcap stocks actually outperformed, and IT was the week's standout sector.
Nifty sees 14 stocks down 2%+
Within the Nifty index, 14 stocks dropped 2% or more, including Shriram Finance and NTPC.
On the upside, Adani Enterprises and Kotak Mahindra Bank led nine stocks that gained at least 2%.
Midcap names like SAIL, Ather Energy (which jumped after new funding), and Glenmark Pharma posted solid wins, though Crompton Greaves Consumer Electricals and Tata Power lost ground.
Markets did bounce back on Friday thanks to strong gains from IT giants like TCS, Tech Mahindra, and Infosys.