Indian stock SENSEX rises for 5 consecutive weeks even though it falls
Indian stocks fell 399 points (0.5%) to $79,670 in morning trading on Friday, halting gains in the previous two sessions while banking and financial services recorded losses.
Nifty Bank fell 1.4%, dragged by the slump of HDFC Bank (-3.9%).
By sector, automobiles, banks, and real estate fell 0.5 to 1%, while capital goods, healthcare, and oil and gas each fell 0.5%.
The BSE Mid-Cap Index and the Small-Cap Index are traded in green.
Traders made profit margin sales after BSE Sensex hit a record high for 2 consecutive days and closed above the 80,000 mark for the first time on Thursday.
While traders closely watched today's US employment statistics, which could influence the direction of the Fed's monetary policy, they anticipated China's consumer price index (CPI) and producer price index (PPI) to be announced next week.
Other early losers were Titan (-1.9%) and Mahindra & Mahindra (-1.2%).
However, expectations that the Fed will cut interest rates by the end of this year and guarantees that policies will continue even after the election are underpinned, and the index has risen 0.8%, making it the 5th consecutive week of rise.
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乱空 OP : The Indian market rose 11% a month after the June elections
In 2019/5, the market fell slightly by 0.1% one month after the election, but rose 5.8% in 2014/5. The most notable increase was seen in 2009/5, and one month after the election results, the market rose by about 22%.
乱空 OP : It rose drastically just before closing, and the morning minus 0.5% was written off, and once turned positive