Sensex gains; post 3rd consecutive weekly gain

MUMBAI (Reuters) - India's stock markets recovered from mild falls to advance on Friday, posting their third consecutive weekly gain, as hopes for rising sales during the ongoing festive season lifted sectors such as auto makers, trumping earlier concerns about earnings.

Maruti Suzuki Ltd rose 1.66 percent, while Mahindra & Mahindra Ltd gained 1.1 percent.

But shares of companies which posted disappointing results this week continued to fall. Infosys Ltd fell 0.22 percent, posting a fifth consecutive losing session after it lowered its dollar revenue guidance on Monday. Shares in the software firm fell 6.2 percent for the week, its worst weekly performance since April.

 

The broader Nifty rose 0.72 percent to end at 8,238.15, recovering from an earlier fall of as much as 0.39 percent to gain for a second consecutive session.

The index rose 0.59 percent for the week, and has now gained 3.6 percent in October.

The benchmark BSE Sensex rose 0.76 percent to end at 27,214.60. It rose 0.50 percent for the week.

(Reporting by Rafael Nam; Editing by Subhranshu Sahu)