Indian indices ended higher this week, snapping 2 weeks of losses with both Nifty and Sensex up around 1.5 percent each. Broad-based buying was seen across key sectors with banking, IT, and metal leading. Broader markets were also in line with benchmarks with the midcap index up 1.7 percent.
Indian markets were on an uptrend this week, bucking the global trend as better than expected results of major IT firms boosted the sentiment.
In Friday's session, Indian indices pared gain after hitting a record high to end flat on Friday as gains in pharma, metal, and heavyweight RIL were offset by losses in IT stocks and banks. The Sensex ended 19 points lower at 53,140 while the Nifty was down 1 point at 15,923.
Among sectors, realty rallied over 8 percent, IT & Infra added over 2 percent each. Nifty Bank rose for the second straight week, up nearly 2 percent, led by ICICI Bank and Axis Bank. Nifty Auto and Nifty FMCG were flat for the day.
Meanwhile, Wipro, L&T, UltraTech cement, Tech Mahindra and Grasim Industries were the top gainers this week while Adani Ports, Eicher Motors, BPCL, Maruti Suzuki and Bajaj Auto led the losses.