BENGALURU, Jan 14 (Reuters) - Indian shares snapped a
five-session rally on Friday, reflecting weak sentiment in
global markets after hawkish comments from U.S. central bank
policymakers, but notched their fourth straight weekly gain.
The blue-chip NSE Nifty 50 index closed down 0.01%
at 18,255.75 while the benchmark S&P BSE Sensex ended
0.02% lower at 61,223.03.
Both indexes, however, have recovered nearly 10% since
slipping into correction territory on Dec. 20, as investors
looked past a sharp rise in COVID-19 cases to focus on
December-quarter corporate earnings.
On Friday, stocks across the globe stumbled after U.S.
Federal Reserve Governor Lael Brainard became the latest and
most senior U.S. central banker to indicate hike interest rates
would happen in March.
"We are seeing a marginal cool-off in prices as we are
mirroring moves from broader Asian markets," said Siddhartha
Khemka, head of retail research at Motilal Oswal Securities in
In Mumbai, the Nifty auto index snapped two
sessions of gains to settle 0.37% lower. India's auto industry
body on Friday warned that the sector continued to face
challenges due to semiconductor shortages.
The IT sub-index, ended 0.57% higher and clocked
a weekly gain of 1.8%, with HCL Technologies adding
0.2% ahead of results.
The Nifty realty index closed up 1.15% and
clocked its fourth straight weekly gain.
Among individual stocks, shares of Paytm snapped
eight consecutive sessions of losses to close 8.4% higher at
1,118.60 rupees, still lower than the debut price of 1,950
Shares of Asian Paints closed down 2.7% and
private sector lender Axis Bank shed 2.6%, among the
top percentage losers on the Nifty 50 index.
(Reporting by Chandini Monnappa in Bengaluru; Editing by
Shounak Dasgupta, Subhranshu Sahu and Ramakrishnan M.)