Last updated: 23 Apr, 2021 | 12:31 pm
The markets saw another interesting week, with factors such as fresh curbs due to rising Covid-19 cases, Q4 earnings releases, and FII outflows weighing on investor sentiments.
The Nifty plunged by more than 1.7% on Monday, after fresh lockdowns were announced in different parts of the country. The index continued its decline on Tuesday, as investors remained concerned about the record surge in Covid-19 cases in various states and huge FII outflows.
The stock market was closed on Wednesday on account of Ram Navami. The Nifty posted a recovery on Thursday, ending 0.8%, led by heavy buying in banks and financials. Trading was volatile on Thursday, due to expiry of weekly index options on NSE. Indian equities ended the final trading day of the week with losses, after swinging between profit and losses. For the week, the Nifty lost 1.65%, posting its third straight weekly loss. This is the longest streak of weekly decline in 11 months.
Top gainers and losers
Here is a quick recap of the market moving developments
Gold prices rebound
Gold prices moved to a 2-month high on Wednesday, supported by a stable US dollar and a fall in 10-year US treasury yields. The decline in equity markets during the week also supported the prices for the yellow metal, as investors moved towards lower risk assets amid rising Covid cases. Gold has gained for the second consecutive week.
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