Nifty logs best week in 3 months, valuations hit multi-year lows: Bear case scenarios point to THESE year-end levels

Equity benchmark indices Sensex and Nifty surrendered early gains to close almost flat in a volatile trade on Friday as uncertainties over the global trade war sapped investors’ risk appetite. Benchmark index Nifty 50 logged its best week in three months, led by heavyweight Reliance Industries and metal stocks, as losses in the past three weeks triggered bargain buying.

On the day, the Nifty 50 rose 0.03% to 22,622.5, while the BSE Sensex ended 0.01% lower at 74,332.58.

The Nifty rose about 1.9% this week, its best in three months, while the Sensex gained 1.6% and logged its highest weekly gains since January-end.

Besides, a bearish trend in global markets and persistent foreign fund outflows also hit investor sentiments, traders said.

Snapping its two-day winning streak, the 30-share BSE Sensex slipped 7.51 points to end at 74,332.58. During the mid-session, it climbed 246.34 points or 0.33 per cent to hit an intraday high of 74,586.43.

However, the broader Nifty of NSE edged up 7.80 points to close at 22,552.50. During the day, the 50-share barometer rose 89 points or 0.39 per cent to hit a high of 22,633.80.

During the week, the BSE Sensex climbed 1,134.48 points or 1.55 per cent high, and the NSE Nifty rose 427.8 points or 1.93 per cent.