Last updated: 30 Apr, 2021 | 01:59 pm
The markets saw another interesting week, with factors such as West Bengal elections, fresh curbs due to rising Covid-19 cases, Q4 earnings releases, and FII outflows steering the course.
The Nifty started off the week on a strong note, jumping 1% on Monday, supported by positive global cues. US economic data and talks around rationalisation of corporate taxes boosted sentiments.
The index continued its rise on Tuesday, gaining another 1%. Optimism around vaccines and strong Q4 results by Nifty heavyweights led to further gains over the next two days. Indian equities ended the final trading day of the week with losses, as exit polls indicated that BJP was trailing in key states elections. Further, fresh lockdowns introduced in various parts of the country also dented sentiment. For the week, the Nifty gained 2.02%, posting its best gains in 3 weeks.
Top gainers and losers
Here is a quick recap of the market moving developments:
Gold prices decline, down Rs 10,000 from highs
Gold prices extended decline to the seventh straight day on Friday, amid weak global cues. Gold has struggled in the year so far as a stronger USD and rising US bond yields have led investors to move away from the precious metal.
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