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Markets This Week: Sensex, Nifty end around 1% lower; metals drag, pharma gains

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Both Nifty and Sensex ended around a percent lower for the week dragged mainly by metals and banks.

Markets This Week: Sensex, Nifty end around 1% lower; metals drag, pharma gains
Indian indices erased last week's gains to end the week in the red. Both Nifty and Sensex ended around a percent lower for the week dragged mainly by metals and banks.
While declining COVID-19 cases, easing of curbs and a surge in vaccinations have helped the indices hit record highs recently, they've struggled this week amid a lack of fresh domestic triggers.
The midcap index rose for the second straight week, up half a percent.
In Friday's session, Indian indices trimmed losses to end higher on Friday boosted by a recovery in financials and IT stocks from their day's low. Meanwhile, gains heavyweight RIL, Infosys, ICICI Bank also lifted the sentiment. The Sensex ended 166 points higher at 52,484 while the Nifty rose 42 points to settle at 15,722.
Among sectors, the metal index fell the most while the pharm index was the top gainer. Nifty Bank, meanwhile, fell nearly 2 percent this week with HDFC Bank and Axis Bank as top draggers.
On the Nifty50 index, Divi's Labs, Dr Reddy's, Cipla and HUL were the top gainers for the week while HDFC Life, Shree Cement, Bajaj Finserv, Britannia and JSW Steel led the losses.
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