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Indian shares registered a weekly loss, with the Nifty 50 settling lower on Friday due to hawkish central banks, lower earnings guidance by Accenture and consolidation in domestic benchmarks. While global central banks reflect hawkish stances, the domestic economic indicators remain favourable to sustain earnings growth. The Nifty 50 lost 0.56% to close at 18,665.50, and the S&P BSE Sensex fell 0.41% to 62,979.37 at Friday s close, and both indexes lost 0.85% and 0.64%, respectively, for the week. The same has been the most significant weekly decline since late April. ....
Indian equity benchmarks Sensex and Nifty closed lower due to profit booking and heavyweights like ICICI Bank and Reliance Industries facing selling pressure, resulting in losses for many private banks. The PSU banks, however, saw the highest sectoral gains. Looking ahead, there may be more volatility as the Nifty has been witnessing significant swings in both directions for the past three trading sessions. In other global markets, European shares fell and the US was closed for Juneteenth on 19 June. ....