Real estate paced all 11 S&P 500 industry groups lower as sentiment was dragged by COVID protests in China as well as Fed officials arguing for higher rates.
Indian benchmark equity indices reversed the two day loss on Jan 08 ending the week on a strong note. At close Nifty settled 210 points, or 1.48 percent, up at 14,347.25. The Nifty opened with an upgap and remained sideways with an upward bias till late afternoon. Post 1430 Hrs another spurt of buying took Nifty up. The Nifty gained 2.35% for the week, gaining for the 10th consecutive week –its longest winning streak since June 2009.
Volumes on the NSE were higher than recent average. Among sectors, Auto, IT, Media and Pharma were the main gainers, while Metals and PSU Banks were the main losers. Midcap and Smallcap indices rose, but less than the Nifty.