Benchmark indices ended marginally lower on Friday led by a decline in HDFC, HDFC Bank, Sun Pharma and Axis Bank.
The S&P BSE Sensex ended at 35,809, down 67 points or 0.19 per cent, while the broader Nifty50 index settled at 10,724, down 22 points or 0.20 per cent.
Among the sectorial indices, the Nifty Pharma index ended 3.1 per cent lower led a fall in Glenmark and Lupin. The Nifty Metal index settled 2.07 per cent lower weighed by JSW Steel and Welspun Corp.
In the broader market, the S&P BSE MidCap index ended 167 points, or 1.18 per cent lower at 13,941, while S&P BSE SmallCap index fell 111 points, or 0.83 per cent to settle at 13,253.
Sensex rebounds 93 pts, ends flat for week; Nifty Midcap shines
Equity benchmarks recouped some of previous session’s losses to close marginally higher on Friday while the broader markets outperformed with the Nifty Midcap index rising over a 1 percent despite weakness in Asia.
The 30-share BSE Sensex was up 92.72 points at 27803.24 and the 50-share NSE Nifty gained 31.10 points at 8541.20. About 1489 shares advanced against 1178 declining shares on the Bombay Stock Exchange.
The market ended flat for the week amid consolidation, especially after a 2.6 percent rally in the previous week.
Minister of state for parliamentary affairs Ananth Kumar has informed the Rajya Sabha today that the landmark legislation – GST Bill – will be taken up for discussion next week.
ITC lost 0.4 percent on profit booking after first quarter earnings. The company clocked 3 percent growth in cigarette volume in Q1 after 12 quarters of decline. Citi has maintained a buy rating with a target price of Rs 295. In his last AGM as ITC chairman, YC Deveshwar said he expects FMCG revenue to hit 1 lakh crore by 2030.
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Another week ends and we are nearing the financial year end. We at StockArchitect hope that all of you have made a lot of money during this financial year. Our motto is to help investors take an informed decision based on the collective views of others.
Here are some picks we pulled out from the week gone by.
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