Nifty, Sensex rally for 2nd week over strong Q2 earnings, domestic inflows
MUMBAI: The Indian equity benchmarks made marginal gains for the third consecutive week, supported by positive global cues, robust domestic inflows and strong Q2 earnings.
Benchmark indices Nifty and Sensex edged higher 0.34 and 0.52 per cent this week to close at 26,202 and 85,706, respectively.
Analysts said that global cues remained supportive, aided by softer US yields, renewed expectations of a Fed rate cut, and benign crude prices that helped temper inflation concerns.
Broader indices underperformed, with the Nifty Midcap100 and Smallcap100 ending the week down 0.11 per cent and 0.10 per cent respectively.
Gains during the week were led by pharma, PSU banks, media, and IT, while realty, consumer durables, and oil & gas lagged behind.
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