ET Market Watch: Markets snap 6-week losing streak; IT & Pharma lead gains
Hi, you're listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it:
Indian markets broke a six-week losing streak on Thursday, closing slightly higher in a volatile session. Gains in IT and pharma stocks—boosted by softer U.S. inflation data and the extension of the U.S.–China tariff truce—helped offset weakness in metals and energy.
The Sensex added 58 points to close at 80,598, and the Nifty rose 12 points to 24,631. Both benchmarks gained about 1% this week.
Infosys climbed 1.5% after buying a stake in Australia's Versent Group, while Apollo Hospitals surged 10% for the week on strong earnings—its best run in nearly four years.
Broader markets also edged up, with mid- and small-caps gaining close to 1%.
Caution lingered ahead of the August 15 U.S.–Russia summit, with concerns over possible secondary tariffs on Indian goods if talks fail. Markets will be shut Friday for Independence Day.
Globally, equities paused after hitting record highs, with investors awaiting U.S. producer price data. Brent crude rose to $66.08 a barrel, and the rupee ended weaker at 87.55 against the dollar despite an S&P credit upgrade for India.
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