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By EquityPandit

MARKETS

Sensex, Nifty Decline 0.5%, Marking Third Straight Weekly Loss

27 Nifty stocks closed in the red, with Trent, SBI Life, and Dr. Reddy’s among the top losers.

Benchmark equities ended the week lower, marking their third consecutive weekly decline. The midcap and small-cap indices dropped 2% and 4%, respectively.

The Sensex and Nifty fell 0.5% each, while the Nifty Bank index declined 0.4%. Major contributors to Nifty’s decline were HDFC Bank, Reliance Industries, and Mahindra & Mahindra.

27 Nifty stocks closed in the red, with Trent, SBI Life, and Dr. Reddy’s among the top losers. In contrast, Wipro, Kotak Mahindra Bank, Britannia, and Grasim emerged as the top gainers.

The Nifty Midcap 100 index fell 835.90 points to 53,262.95, and the Nifty Bank index dropped 221.20 points to 48,367.80.

Dr. Reddy’s declined 5% after weak Q3 earnings, and Trent fell 4%. Meanwhile, Mphasis rose 3% on positive management commentary, and Laurus Labs gained 3% on strong Q3 results.

Cyient plunged 24% due to a guidance cut and the resignation of its CEO, while Syngene fell 6% after lowering its full-year guidance.

Midcap losers included Paytm, Prestige Estates, AB Fashion, and Polycab. Ujjivan Small Finance Bank dropped 4% on higher GNPA and slippages, while Sonata Software and Suryoday Small Finance Bank fell to 6% on weak outlooks. Amber Enterprises gained 3% on strong Q3 results.

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