Markets escape choppy start aided by bank, FMCG stocks

Mumbai: The Sensex and Nifty mustered gains for the second straight session on Friday, propped up by banking, FMCG and pharma stocks, but closed lower for the week as the surging Delta variant cases sapped risk appetite globally.

Overcoming a choppy start, the 30-share BSE Sensex ended 138.59 points or 0.26 per cent higher at 52,975.80.

On similar lines, the broader NSE Nifty advanced 32 points or 0.20 per cent to finish at 15,856.05.

ICICI Bank topped the Sensex gainers' chart with a jump of 3.18 per cent ahead of its results on Saturday. ITC, SBI, HCL Tech, Axis Bank, Bajaj Finserv, Tech Mahindra and Sun Pharma were among the other winners, advancing up to 2.56 per cent.

On the other hand, L&T, HUL, Reliance Industries, NTPC, Asian Paints and HDFC Bank were the prominent losers, dropping up to 1.80 per cent.

During the week, the Sensex declined 164.26 points or 0.30 per cent, while the Nifty slipped 67.35 points or 0.42 per cent.

Sectorally, BSE realty, bankex, FMCG, finance and metal indices rose as much as 1.46 per cent, while capital goods, industrials, telecom and consumer durables fell up to 0.85 per cent.

Broader BSE midcap and smallcap indices ended on a flat note.

Global equities were mixed as investors digested a slew of earnings and macroeconomic data.

Elsewhere in Asia, bourses in Shanghai and Hong Kong were in the red, while Seoul ended with gains.

Equities in Europe were trading on a positive note after the European Central Bank reiterated its dovish

stance.

Meanwhile, international oil benchmark Brent crude declined 0.01 per cent to USD 73.78 per barrel.

The Indian rupee pared early losses to close 6 paise higher at 74.40 against the US dollar on Friday.