Indices build on gains as banks, FMCG stocks rise; ICICI Bank gains 3.18%

 

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 Sensex ended 138.59 points or 0.26 per cent higher at 52,975.80. On similar lines, the broader Nifty advanced 32 points or 0.20 per cent to finish at 15,856.05.

icici bank topped the Sensex chart with a jump of 3.18 per cent ahead of its results on Saturday.

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 fell 164.26 points or 0.3 per cent; the Nifty slipped 67.35 points or 0.42 per cent.

“The markets witnessed a bumper listing of one of the most awaited IPOs. The exuberance though was not broad-based; market breadth remained negative. The weekly trend, too, remained marginally negative as all the major market-cap-based broader indices closed marginally in the negative for the week.," said Joseph Thomas, Head of Research at Emkay Wealth Management.