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Market Update: India Stocks Book 1st Weekly Loss in Five
The S&P BSE Sensex erased early losses to close near the flat line at 52,344 on Friday, booking a 0.2% weekly loss and snapping four straight weeks of gains, as the US Federal Reserve’s indication that it would raise interest rates sooner than expected weighed on sentiment. A slump in commodity prices due to the stronger dollar hit metal stocks, while financials rallied on the prospect of higher profitability. Elsewhere, investors hope for a quicker economic recovery in India, as the second wave of infections continued to show signs of slowing and the economies of many states re-opened. [/s2If]
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