Markets pull back Three-Day Record-Breaking Streak On Profit Booking

Indian share market surged to fresh lifetime peaks on Week ended  Friday but finished with modest losses, snapping their 3-session winning streak, as investors rotated out of Reliance, metal and IT stocks at higher levels.

The  BSE Sensex settled 125.27 points or 0.21 percent lower at 59,015.89. Similarly, the broader NSE Nifty slipped 44.35 points or 0.25  percent to close at 17,585.15, after touching an intra-day record of 17,792.95.

Tata Steel was the top loser among the Sensex components, falling 3.57  percent, followed by SBI, TCS, HUL, Reliance Industries, Sun Pharma and ICICI Bank. On the other hand,

 Kotak Bank, HDFC Bank, Bharti Airtel, Maruti, Nestle India and Bajaj Finserv were among the prominent winners, climbing as much as 5.26  percent. During the week, the Sensex surged 710 points or 1.21  percent, while the Nifty advanced 215.90 points or 1.24  percent.

Sectorally, BSE metal, realty, basic materials, energy, power and utilities indices fell up to 2.49  percent, while bankex, telecom, finance and auto finished higher. Broader BSE midcap and smallcap indices dived up to 1.14  percent. Meanwhile, international oil benchmark Brent crude slipped 0.54 perfect to USD 75.26 per barrel. The rupee closed 4 paise higher at 73.48 against the US dollar on Friday, tracking the weakness of the American currency in the overseas market.

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