Sensex and Nifty fall 6th straight week as rupee strengthens
Indian stock markets wrapped up their sixth straight week in the red on Friday, mainly thanks to global tensions and higher oil prices.
The Sensex slipped by 263 points to 73,319, while the Nifty dropped 106 points to 22,713.
On a brighter note, the rupee actually strengthened against the US dollar this week, closing at ₹93.10 per US dollar, up by a solid 171 paise.
Healthcare, pharma fall, foreign investors sell
Not all sectors moved together: health care and pharma stocks took a big hit (down over 3%), and consumer durables plus banking and auto stocks also dipped about 1%.
Meanwhile, IT and metal shares managed gains of up to 3%.
Foreign investors kept selling for the seventh week running, offloading ₹29,425.34 crore worth of shares, but domestic investors almost matched that with strong buying.
Even with all this volatility, some small-cap stocks like Latent View Analytics and Ola Electric Mobility still managed to shine.