Metal, media and energy indices top gainers this week

Benchmarks Nifty50 and the S&P BSE Sensex closed
0.40 and 0.41% lower respectively, under pressure from
IT, Pharma, consumer durables and FMCG stocks.

 

MUMBAI: India’s stock market closed third straight day and four out of five sessions in the red, primarily concerns arising out of Russia-Ukraine war and surge in crude prices along with Fed rhetoric.

 

Benchmarks Nifty50 and the S&P BSE Sensex closed 0.40 and 0.41% lower respectively, under pressure from IT, Pharma, consumer durables and FMCG stocks. The benchmarks found some support from Realty, PSU Bank, Oil & gas stocks as Nifty closed above 17,150 and Sensex settled at 57,362.20.

 

Meanwhile, Nifty50 and Sensex declined 0.8% and 0.9% respectively for the week ending March 25. Media, metal and energy sectors witnessed buying interest this week as they provided much-needed resilience allowing barometer indices to trade above crucial support levels.

 

On the BSE, S&P BSE Metal, S&P BSE Energy, S&P BSE oil & gas, S&P BSE Momentum Index and S&P BSE Basic Material were top 5 gainers on the exchange. They ended the week with gains of 5.5%, 3.6%, 2.7%, 2.2 and 1.7% respectively.

 

Nifty media with 7% gain was the leading index on the NSE. Nifty Metal (5.1%), Nifty Oil & Gas (3%), Nifty Commodities (2.3%) and Nifty Energy (2.1%) were other leading gainers.

 

Meanwhile, FIIs returning on buying side was some respite for the market.