Nifty snaps 5-week losing streak

For the week, the Energy index shot up 7%, Bank Nifty gained 4%, while Auto gained 2%.

Oct 15, 2018 01:10 IST India Infoline News Service

After witnessing multiple weeks of losses, the Indian equity markets finally saw some relief as indices snapped a five-week losing streak.

A cooling off in crude oil prices and strength in the Indian rupee against the US dollar lifted the sentiments on D-Street. Meanwhile, results season has kicked off after TCS announced better-than-expected Q2FY19 results on Thursday.

For the week, the Energy index shot up by ~7%, Bank Nifty gained ~4%, Auto index gained 2%, Infrastructure was up 1.7%, while FMCG was up by a percent. On the flipside, the IT index was the top loser and declined 6.7% while Metals edged lower by 0.2%.

For the week, the NSE benchmark Nifty gained 1.5%, while Bank Nifty surged ~4%.

The coming week promises to be full of action as IndusInd Bank, Indiabulls Housing Finance, Infosys, Hero MotoCorp, Reliance Industries, Ultratech Cement, and HDFC Bank, among a few other heavyweights, are scheduled to release their quarterly earnings.

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