Mkts end in red for 3rd straight week

Longest weekly losing streak in 14 months; FPI selloff in October tops $9 billion

- SUNDAR SETHURAMAN

A sharp rally in banking stocks helped the equity benchmark indices snap their three-day losing streak, but the gains were not enough to erase the weekly deficit. The Sensex and Nifty 50 ended in the red for the third consecutive week on Friday, marking their longest weekly decline since August 2023.

The Sensex ended the session at 81,225, with a gain of 218 points, or 0.3 per cent. The Nifty 50 index ended at 24,854, up 104 points, or 0.4 per cent.

For the week, Sensex declined by 0.2 per cent and Nifty by 0.4 per cent.

During the past three weeks, the Sensex shed 4,347 points, or 5.1 per cent, while the Nifty was down 1,325 points, or 5.1 per cent.

The losses come amid unprecedented outflows from foreign portfolio investors (FPIs).

On Friday, FPI sold shares worth ₹5,486 crore, while domestic institutional investors (DIIs) were the net buyers to the tune of ₹5,215 crore.