India's benchmark stock index Sensex marked a weekly gain of nearly 380 points as trading wound up on Friday.
The BSE Sensex settled 12.53 points, or 0.03 percent, higher at 36,386.61. The broader NSE Nifty inched up 1.75 points, or 0.02 percent, to 10,906.95. trading was flat on on Friday after a volatile session as investors largely stuck to index heavyweights despite positive global cues.
Led by Sun Pharma, BSE Healthcare index tanked 2 percent on Friday, while telecom stocks also saw heavy selling pressure, losing more than 3 percent.
During the week, the 30-share Sensex gained 378.77 points, or 1 percent and the Nifty rose 112 points, or 1.02 percent.
- Sensex rises 12.53 points
- Nifty up 1.75 points
- Sun Pharma drags healthcare stocks
- Rupee falls marginally
- Domestic markets seen range-bound in near term
Reliance Industries was the biggest gainer on Sensex in Friday's session, spurting 4.43 percent, after the company became the first Indian private sector company to report a quarterly profit of more than Rs 10,000 crore following record earnings from petrochemical, retail and telecom businesses.
Other gainers included Kotak Bank, HCL Tech, ONGC, Asian Paints, Vedanta, HDFC Bank, Bajaj Finance, Maruti and TCS, gaining up to 1.41 percent.
"Domestic indices failed to absorb the rebound in global market as plunge in pharma stocks and weak rupee dragged the sentiment ... Global headwinds continue to dictate a range-bound movement in the market while any green shoots in quarter earnings provide opportunity to accumulate."
Sun Pharma was the top loser, cracking 8.58 percent, on reports of fresh allegations by a whistleblower against the company.
Domestic markets range-bound in near term
"Domestic indices failed to absorb the rebound in global market as plunge in pharma stocks and weak rupee dragged the sentiment," said Vinod Nair, Head of Research, Geojit Financial Services. "Global headwinds continue to dictate a range-bound movement in the market while any green shoots in quarter earnings provide opportunity to accumulate," he added.
On a net basis, foreign portfolio investors (FPIs) purchased shares worth Rs 842.13 crore Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 727.46 crore, provisional data available with BSE showed.
According to analysts, global trade tensions and risk of recession will cast a cloud over the sentiment, while lack of major triggers in the domestic market could see range-bound movement in the near term.
The rupee, meanwhile, depreciated 10 paise against the US dollar to 71.13 intra-day.
(With inputs from PTI)