BENGALURU, July 5 (Reuters): India's blue-chip Nifty 50 notched another record closing high on Friday, shrugging off a slide in HDFC Bank, and chalked up its fifth straight week of gains, its longest such streak this year.
The NSE Nifty 50 rose 0.09 per cent on the day to end at 24,323.85 as gains in energy stocks helped it notch a record closing high for the fourth time this week.
The S&P BSE Sensex settled 0.07 per cent lower at 79,996.6 points, but still managed to mirror both the Nifty's 1.2 per cent rise this week and a fifth consecutive week of gains.
Still, the benchmarks got off to a rocky start on the day as HDFC Bank, the heaviest-weighted stock on the indexes, tumbled 4.6 per cent after posting a disappointing quarter financial update.
The lackluster session is also an initial sign of investors' exhaustion near record-high levels, said Sameet Chavan, head of research at Angel One.
The IT index, a relative underperformer over the year, jumped 4.3 per cent this week, its biggest such rise in four, as soft U.S. economic data bolstered expectations of a rate cut in September.
Infosys, Wipro, HCLTech and market-leader TCS rose between 2.7 per cent and 5.2 per cent, among the top Nifty gainers this week.
IT companies, which earn a significant share of their revenue from the U.S., have rallied for a third straight week.
Reliance Industries rose more than 2 per cent on the day to a record high after Nomura listed it as one of the seven global stocks likely to gain from the energy transition.
The small-caps and mid-caps rose about 0.8 per cent each.
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