MUMBAI: The Indian equity benchmarks closed in the red for the fourth consecutive week, showing sustained selling pressure amid escalating geopolitical tensions in West Asia.
Nifty dipped 0.16 per cent during the week, and gained 0.49 per cent on the last trading day to reach 23, 114. At close, Sensex was up 324 points or 0.44 per cent at 74, 532. It declined 0.04 per cent during the week.
Both indices began the week on a flat note but soon gained momentum, mainly due to buyer interest for metal stocks.
Elevated crude oil prices, holding above $100 per barrel, continued to raise concerns around inflation and India’s trade deficit.