Snap Stock- Indian shares snap winning streak as banks fall
BENGALURU (Reuters) – Indian shares ceded ground on Friday after three sessions of gains, pressured by a fall in private-sector lenders, while shares of consumer goods producers gained amid restrictions in some states after a resurgence in coronavirus cases.
The NSE Nifty 50 index was down 0.08% at 14,863.50, while the S&P BSE Sensex was 0.16% lower at 49,666.27. The two biggest drags on the Nifty 50 were HDFC Bank and ICICI Bank.
India has been reporting record daily increases in COVID-19 cases, prompting some states to declare stringent restrictions.
Shares in consumer goods companies climbed 1.3%, the most among 14 sectoral indexes. Consumer products giant Hindustan Unilever was up 3%.
Reporting by Sachin Ravikumar in Bengaluru; editing by Uttaresh.V