BENGALURU: India’s Nifty 50 notched another record closing high on Friday and also its longest weekly rising streak for this year, as gains in energy stocks offset a slide in top private lender HDFC Bank.
The NSE Nifty 50 rose 0.09% on the day to 24,323.85 while the S&P BSE Sensex settled 0.07% lower at 79,996.6 points.
The Nifty 50 settled at record closing highs in four out of the five sessions this week, and the broader Sensex did so thrice. Both the benchmarks, which have been gaining for five weeks, added 1.2% this week.
Still, the indexes slipped earlier on Friday.
The lackluster session for the benchmarks is an initial sign of exhaustion at near record high levels, Sameet Chavan, head of research at Angel One, said.
The IT index logged a weekly gain of 4.3%, helped by soft US economic data, which bolstered expectations of a rate cut in September.
Infosys, Wipro, HCLTech and Tata Consultancy Services rose between 2.7% and 5.2%, among the top Nifty 50 gainers this week.
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