Indian benchmark equity indices, the BSE Sensex and NSE Nifty50, ended Friday's volatile trade with gains led by metals, auto and IT shares amid firm global sentiments. Private banks and energy shares weighed on indices. The Sensex closed 246 points higher at 38,127, while the Nifty settled a little over the 11,300-mark.
For the week, the benchmark indices gained with the Sensex up 1.2 percent, while the Nifty gaining 1.1 percent. Broader market indices also rose with the Nifty MidCap 100 index lost 0.1 percent on a weekly basis.
Among sectoral indices this week, the Nifty FMCG was up 4.3 percent, while the Nifty Bank and the Nifty Auto rose 3 percent and 3.3 percent, respectively. Meanwhile, selling was seen in the Nifty Media, the Nifty IT and Nifty Realty.
Bharti Airtel, Britannia Industries, Grasim, Bharti Infratel and Cipla were the top gainers for the week, up between 5-13 percent.
Bharti Airtel rose 13.3 percent after Reliance Jio's announced that they will be charging an Interconnect Usage Charge (IUC) from customers for calls made to the other networks.
Cipla added over 5 percent after management clarified on Goa unit inspection, saying there are no data integrity and repeat observations.
Yes Bank, GAIL, BPCL, ITC, IOC and Tata Consultancy Services (TCS) were the top laggards on the Nifty50 index for the week.
Yes Bank lost 6 percent after the lender denied media reports saying it is in talks with three technology companies including software major Microsoft for a strategic investment.
TCS ended 4.5 percent lower after the company's September-quarter results failed to meet Street estimates, with most brokerages cutting their price targets for the stock.
Mid Cap Gainers and Losers
Gruh Finance emerged as the biggest gainers among midcaps, rising 12.9 percent this week. Berger Paints, Biocon, Manappuram Finance, Strides Pharma and Apollo Hospitals were the other major midcap gainers, up between 3-12.5 percent.
Gruh Finance rose 12.9 percent after the announcement that Bandhan Bank will be added to the MSCI Index, effective October 16. GRUH Finance will soon be merged with the private sector lender.
Among losers, Century Textiles fell the most, down 54.8 percent this week. Meanwhile, RBL Bank, PNB Housing Finance, Indian Bank and Mphasis fell between 5.8-12 percent.
RBL Bank tanked 12 percent to a record low of Rs 248.10 due to worries that the company will have to make aggressive provisions because of slippages.