Markets lose winning momentum

smallcase shorts

The Indian stock markets saw sellers outpace the buyers as benchmark indices ended the week in the red. While this was also the week when Sensex touched the 50k-mark, the bulls were on the back seat towards the end of the week as the financial and metal sectors experienced widespread selling. Most analysts believe that this was because of profit-booking as markets look seemingly overvalued to investors. Moreover, reports that a massive fire broke out in the Serum Institute of India (SII) – the manufacturer of Covidshield vaccine – made investors nervous.