India stock market recorded the fourth consecutive week of gains, the longest streak since July, and the best monthly gains since April. The BSE Sensex ended the trading session 0.35 percent lower at 44,149.72, while the NSE Nifty 50 Index closed 0.35 percent lower at 12,968.95.
Both indices, which are close to highs set Tuesday, gained more than 11 percent for the month, their best performance since April. Rising inflows from FPIs have supported drive Indian equities higher even with the economy probably in its first technical recession since at least 1996.
Sectorally, Nifty Media and Nifty Auto indexes led the gains in Friday’s session, up more than 1.4 percent each. Sun TV Network Ltd. was the top performer on the media index, shares closed 4.76 percent higher at Rs 44.35 apiece. TVS Motor Co. and Tata Motors Ltd. pulled the auto index higher, gaining 4.92 percent and 2.82 percent respectively. Broader markets outperformed with the Nifty Midcap Index gaining 2.7 percent and the Nifty Smallcap Index gaining more than 3 percent.
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