Indian equity markets ended the week with marginal gains on Friday, as benchmark indices shed gains after global rating agency Moody's revised the country's outlook to negative offsetting positive global cues.

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Trade sentiment turned cautious-to-negative as Moody's said the slowdown will be prolonged unless more concrete measures to boost rural spending and job creation are taken by the government.

The 30-share S&P BSE Sensex hit an intra-day record high for the third consecutive season at 40,749, but ended Friday's trade shedding over 330 points at 40,323. For the week, the Sensex added just 0.4 percent.

The Nifty was up 0.2 percent this week after the broader 50-share NSE frontline index settled below the 12,000-mark on Friday, at 11,908, losing almost 104 points. The index closed above the 12,000-mark on Thursday for the first time since June 4.

In broader markets, the Nifty MidCap index slipped almost a percent, while the Nifty Bank, the Metal and Realty indexes ended positive rising by up to 3.6 percent. The Nifty Auto, the PSU Bank and the FMCG slipped by up to 4.5 percent.

Bharti Infratel gained nearly 8 percent this week, leading among the Nifty stocks on large block deals after last week's bearish trends in the wake of Supreme Court judgement on the definition of the adjusted gross revenue of telecom companies.

ICICI Bank, Hindalco, Bajaj Finserv and JSW Steel were other major gainers this week, rising between 5 and 6 percent.

ICICI Bank gained nearly 6 percent this week after its second-quarter results as most brokerages remained bullish on the private banking major. Metal stocks benefited amid rising optimism on the US-China trade agreement.

Among top Nifty losers this week, Titan lost over 11 percent after the Tata Group company reported weaker-than-expected earnings for the quarter ended September. Investor sentiment was further dented with Titan Co reducing its jewellery sales growth guidance to 11-13 percent for the next two quarters from 20 percent earlier.

Zee Entertainment Enterprises (ZEEL) shares slipped overall more than 7 percent this week. The Essel Group company stock reduced losses towards the fag end of the week as Puneet Goenka was reappointed as managing director and chief executive officer for another period of five years.

Indian Oil, GAIL and UPL were other major losers this week along with Maruti Suzuki and Hindustan Unilever.

UPL's second quarter (July-September) consolidated net profit fell sharply by 67 percent due to one-time exceptional loss. The agrochemical company's profit during the quarter declined to Rs 89 crore, against Rs 270 crore reported in the same period last year. UPL reported a one-time loss of Rs 305 crore during the quarter against a loss of Rs 57 crore in corresponding quarter previous fiscal.

In the midcap space, Raymond shares surged over 36 percent this week as the company decides to demerge its lifestyle and fashion business and plans it to list separately. Every shareholder of Raymond Ltd will be issued the shares of the new company in the ratio of 1:1.

Raymond said the move will create a clear demarcation of lifestyle and other businesses, leading to the simplification of the group structure.

Max Finance, JB Chemicals, Indiabulls Housing Finance and DLF also gained between 9 and 19 percent this week. Realty shares gained after union finance minister Nirmala Sitharaman announced measures to boost the housing sector.

Cyient, Mahanagar Gas, TVS Motor, Godrej Agrovet and Greaves Cotton slipped between 3 and 4 percent this week.