The domestic benchmark Nifty index concluded first week of the New Year, 2017 on a positive note. The Indian stock markets finished the weekend marginally lower, when the BSE Sensex closed lower by 119 points, it added 0.05% overall to settle 26759, whereas the NSE Nifty finished lower by 30 points, added 0.07% close the week at 8243. Both Midcap & Smallcap stocks rose by 2.4% and 3.2% respectively.
A mixed rally in auto, metal and bank stocks helped the key benchmark indices score modest gains on the ultimate trading day of the week. Indian shares reversed the past week’s robust gains. Market sentiments were dented following higher oil prices, weak domestic industrial production data and increasing possibility of a delay in the implementation of GST.