Last updated: 27 Aug, 2021 | 02:39 pm
The Nifty started off the week with decent gains on Monday. IT stocks climbed while Auto and Metal tumbled. The index continued its rise on Tuesday, tracking positive cues in other Asian markets.
Domestic sentiments were upbeat after Finance Minister Nirmala Sitharaman launched the National Monetisation Pipeline (NMP) on Monday. Through NMP, the government will be selling infrastructure assets worth Rs 6 lakh crore over the next four years.
After hitting record high levels on Wednesday, the indices sharply pared gains and ended near flat. On Thursday, the Nifty closed below the 16650-mark. Moody’s Investor Service said that the second wave of Covid will lead to higher bad loans in the retail and SME segment but severe asset quality decline is unlikely.
On Friday, Nifty closed above the 16700-mark. Metal stocks resumed uptrend and all the sectoral indices on the NSE ended in the positive. During the mid session, Nifty hit a record high of 16722.
Top gainers and losers
Here is a quick recap of the market moving developments:
If you’ve gotten this far, you might as well read our other blogs.