Indices snap three-day winning streak but end with weekly gains

Covid concerns, the hawkish turn by central banks to fight inflation, and sustained FPI selling had rattled investors last week

The indices snapped their three-day winning streak on Friday but managed to close the week slightly higher.

The benchmark Sensex ended the latest session at 57,124, down 191 points or 0.3 per cent. But it managed to end the week 112 points higher. The Nifty, on the other hand, ended Friday's session at 17,003.75, following a decline of 69 points or 0.4 per cent.

Vacillation marked the latest trade as the Sensex swung 810 points from the day's highs to lows. Banking stocks were the biggest drag on the index and contributed most to the decline. Analysts said that traders preferred to