Sensex, Nifty log fourth straight weekly gain; technology shares jump

Tech shares zoomed after IT major TCS on Thursday reported a 4.4 per cent growth in its consolidated net profit at Rs 69.04 billion

The benchmark indices logged their fourth straight weekly gain but ended weak on Friday amid weakening of the rupee and a surge in government bond yields. 

Release of the minutes of the Monetary Policy Committee meeting after market hours on Thursday indicated that the Reserve Bank of India (RBI) might shift to a hawkish monetary stance in June, which dented investors’ sentiment.

The Sensex fell 11.71 per cent to close at 34,415.6, while the Nifty50 index declined 1.25 points to finish the day at 10,564. Both indices, however, have gained nearly 6 per cent in the past four weeks. 

“Release of the minutes