Indian shares pared gains in the final hour of trading to ended flat on Friday as gains in banking and telecom stocks were capped by losses in IT and FMCG stocks.

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Meanwhile, the global sentiment was positive as risk appetite was whetted by a comment from a senior US official that the United States and China are getting close to an interim trade pact.

For the week, the benchmark indices were flat with the Sensex up 0.1 percent, while the Nifty down 0.1 percent.

Among sectoral indices this week, the Nifty Finance surged up 1.1 percent, while the Nifty Bank rose 0.84 percent and the Nifty PSU Banks rallied over 0.8 percent.

Among losers, the Nifty Metal tanked the most, down 4.3 percent, while Nifty FMCG tumbled over 2 percent, and the Nifty Realty shed 1.5 percent. Meanwhile, the Nifty Media lost 1.3 percent, the Nifty Pharma fell 0.8 percent and the Nifty IT slipped 0.5 percent for the week.

Nifty Gainers

Bharti Airtel, Bharti Infratel, Bajaj Finserv, ICICI Bank, TCS and Reliance Industries, were the top gainers for the week, up between 1.7 and 6.5 percent.

Telecom stocks saw the traction after sourced told CNBC-TV18 that the committee of secretaries (CoS) is mulling setting a minimum price for mobile calls and data.

Bharti Airtel rose 6.5 percent as brokerages remained positive on the stock despite weak results. while UBS and Citi maintained a 'buy' rating on the stock, Credit Suisse raised its target price for the stock. Meanwhile, Morgan Stanley was 'equal-weight' on the stock. Meanwhile, Bharti Infratel also advanced 4.1 percent for the week.

Reliance Industries added 1.7 percent for the week after rating agency Moody’s affirmed its rating with a stable outlook. The rating reflects significant improvement in RIL’s scale and business mix over the past two years.

Nifty losers

Vedanta, Hindalco, UPL, Adani Ports, UPL and IndusInd Bank were the top laggards on the Nifty50 index for the week, down between 4 and 12 percent.

Vedanta lost 8.6 percent after its consolidated pre-tax profit fell 57 percent to Rs 1,122 crore for its Indian arm in the September quarter from the same period last year as lower revenues and a one-time impairment charge hit performance.

Hindalco declined 8 percent after it reported a 33 percent YoY fall in its consolidated Q2FY20 net profit on the back of global slowdown and lower commodity prices. The company's Q2FY20 net profit was at Rs 974 crore versus Rs 1,448 crore in the year-ago period.

Mid-Cap Gainers and Losers

Glenmark Pharma emerged as the biggest gainer among midcaps, rising 5.1 percent this week after posting Q2 profit at Rs 255 crore. DLF, Motherson Sumi, Muthoot Finance, Lupin, Mahanagar Gas, and Granules India were the other major midcap gainers, up 2.8-4.3 percent.

Among losers, Indiabulls Housing fell the most, down 13 percent this week. Meanwhile, JustDial, Aurobindo Pharma, Strides Pharma, LIC Housing Finance, and Sun TV fell 4-13 percent.

Aurobindo Pharma fell 7 percent after the United States Food and Drug Administration (US FDA) has issued a 'Form 483' with 14 observations to its general injectable formulation manufacturing facility located at Pashamylaram, Hyderabad.

First Published:Nov 15, 2019 5:20 PM IST