Weekly Wrap: Sensex ends in red for third consecutive week

Pratik Shastri
/ Categories: Trending, DSIJ News
Weekly Wrap: Sensex ends in red for third consecutive week

Indian equity markets extended the series of declines for the third consecutive week on Friday July 26 to clock the longest weekly closing in the red. This is second losing streak witnessed by benchmarks in 2019 since the end of January.

The BSE Sensex ended 1 per cent lower this week to close at 37,882.79. On the other hand, the Nifty ended at 11,284.30, down 1.1 percent for the week. The broader market represented by the Nifty 500 Index ended 1.2 percent lower.

The benchmark indices, though, halted their losing streak of six-days. The Sensex and the Nifty closed 0.14 percent and 0.29 percent higher, respectively, on Friday.

The week saw some big names report their Q1FY20 results. The auto sector continued its downtrend with Maruti reporting 12 per cent YoY decline. While for the Tata Motors, JLR again failed to lift sentiments for the automaker. JLR business reported pre-tax loss of 395 million pounds. While its standalone business recorded a loss of Rs. 97.10 crore for the quarter ended June against a profit of Rs. 1,187.65 crore on YoY basis.

Going ahead, major companies such as ITC, SBI, Ashok Leyland will report their numbers. While from the mid-cap segment, NOCIL, Parag milk, International Paper will give direction to the markets.

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