sensex-six-day-winning-run-ends-drops-by-210-pts

The equity benchmark Sensex fell for the first time in seven days on Friday, ending its winning streak.

 

The Nifty50 index also recorded its first loss in five days. Despite the day's decline, both indices reached new intraday record highs before closing lower.

 

After reaching an intraday peak of 79,672, the Sensex closed at 79,033, down 210 points, or 0.3 percent. Similarly, the Nifty closed at 24,011, down 34 points, or 0.14 percent. The decline in banking stocks overshadowed gains in Reliance Industries (RIL), which saw its shares rise by 2.3 percent. Conversely, IndusInd Bank and Axis Bank each fell by over 2 percent.

 

Over the week, the Sensex rose by 2.4 percent, while the Nifty gained 2.2 percent. RIL emerged as a standout performer, with its stock surging by 7.6 percent—its best weekly performance in two years driven by increases in mobile tariffs.

 

The Nifty Private Bank index also saw a weekly rise of 1.02 percent.

 

Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services, commented on the market's outlook: “We expect the positive momentum to continue steadily with stock-specific action. The release of economic data next week would add a little volatility."