The Sensex and the Nifty ended flat on Friday even as global shares rose led by a late rally in the Chinese markets.
The Sensex and the Nifty ended flat on Friday even as global shares rose led by a late rally in the Chinese markets, with the main blue-chip index of Chinese shares rising 2.2 percent.
The BSE Sensex ended 155 points or 0.40 percent lower at 38,158, while the NSE Nifty 50 settled above 11,500-mark, closing at 11,520, down by 62 points, or 0.54 percent.
For the week, the S&P BSE Sensex gained 0.2 percent, while Nifty50 gained 0.6 percent.
Among Nifty50 gainers, Vedanta gained 15.1 percent during the week after the company denied it was in talks with JSW Steel to submit a revised joint bid for Essar Steel. Media reports on February 19 had suggested that the two companies could propose a deal for Essar Steel, which would be higher than Arcelor Mittal's bid.
Shares of ONGC rose 10.2 percent after the company reported a strong December 2018 (Q3FY19) results. The company reported a 65 per cent jump in net profit at Rs 8,263 crore in Q3FY19, as higher prices made up for a fall in oil output.
Indian Oil gained 9.9 percent on reports that the company has signed a $1,500 billion deal to buy oil from the US. As per the report, Indian Oil has finalised a term contract for import of up to 3mn tonnes of crude oil of the US origin grades as a part of its strategy to diversify term crude sources.
Tata Motors gained 8 percent this week amid easing US-China trade war concerns. Shares of Tata Steel gained 7.5 percent after Moody’s Investors Service has upgraded its rating by one notch. Moody’s Investors Service has upgraded Tata Steel's long term corporate family rating (CFR) by one notch to Ba2 from Ba3.
Among losers, Tata Consultancy Services fell more than 5 percent likely on profit-booking, while Kotak Mahindra Bank declined 3.6 percent. Kotak shares fell as ING sold its entire 3 percent stake in the company via block deal. Other laggards included IndusInd Bank, which fell 3 percent, Coal India down by 2.3 percent and ITC dipping 2 percent on a weekly basis.
Among midcap shares, Reliance Infra jumped more than 16 percent, while Jindal Steel & Power shares gained 15 percent this week. Dewan Housing Finance shares surged 13 percent and Century Textiles gained over 9 percent. Adani Enterprises added 9 percent this week.
IDBI Bank shares slipped the most by 4.1 percent among midcaps, while Divis Labs shares declined 3.5 percent. Mphasis, Info Edge and Torrent Power shares were down between 2 and 4 percent.