Markets this week: Sensex, Nifty rise for 3rd week as financials lift broader indices

The share market logged a third straight week of gains even as benchmarks traded in a narrow band, with broader markets continuing to outperform on support from financials. The Nifty 50 and Sensex rose 0.6% each for the week, with 30 of the 50 Nifty constituents ending higher.

The Nifty Bank index gained more than 1.5% as most of its components advanced. Pharma and PSU Bank stocks led sectoral gains, while the PSU index was the top laggard.

Hindalco, Tech Mahindra, Shriram Finance and Sun Pharma were among the top Nifty performers, while Adani Enterprises, Bharti Airtel, Power Grid and SBI Life declined. In the midcap segment, AB Capital, Ashok Leyland, L&T Finance, Varun Beverages and IIFL Finance strengthened, whereas Kaynes, CG Power, SJVN, Solar Industries and GAIL fell.

Markets ended flat for a second consecutive session on Friday, with the Nifty holding above the 26,200 mark. The Sensex slipped 14 points to 85,707 and the Nifty fell 13 points to 26,203. Market breadth tilted towards declines even as frontline indices closed with marginal changes.

The Midcap index dropped 70 points to 61,043, while the Nifty Bank added 15 points to close at 59,753.

M&M was the top Nifty gainer, rising 2% after positive brokerage commentary on its new electric vehicles. Auto stocks posted modest gains ahead of monthly sales data expected to show healthy growth. Insurance names were among the biggest losers, with SBI Life and HDFC Life down 2% each.

Shriram Finance fell 2% as investors booked profits following strong gains in the previous sessions. GAIL declined 4% after the Petroleum and Natural Gas Regulatory Board announced a tariff hike that came in lower than analysts’ expectations.

Capital market-related stocks were under pressure, with Angel One dropping 3%. Page Industries extended its losing streak, closing 2% lower. IEX slipped 1% after a tribunal deferred a key case to the first week of January.

Among individual movers, SRF and Paytm rose up to 3% on favourable brokerage views. Laurus Labs, IIFL Finance, Aditya Birla Capital, GMR Airports, L&T Finance and Hero MotoCorp touched 52-week highs.

63 Moons Technologies surged 17% after the NCLT approved NSEL’s one-time settlement proposal. Refex Industries jumped 8% after winning a ₹100 crore contract for excavation, loading and transportation. Eureka Forbes advanced 7% on a strong outlook, with management projecting a potential doubling of revenue by FY30.