An evening walk down Dalal Street | Indices close the week with 1% gains; Nifty above 10,900

Benchmark indices managed to end the session on a mildly higher note, with the Nifty holding on to 10,900-mark. Stable global cues along with rise in IT and consumption names helped the bulls put up a tough fight. The market were largely trading around the flat line with bouts of negative moves. The last couple of hours witnessed erasing of losses. For the week, both the Sensex and Nifty ended 1 percent higher. Among sectors, pharma was the worst performing sector, dragged by Sun Pharma. Banks, auto, consumption and infrastructure sectors were the other big losers, while the Nifty Midcap lost around a percent. At the close of market hours, the Sensex was up 12.53 points or 0.03% at 36386.61, and the Nifty up 1.80 points or 0.02% at 10907.00. The market breadth was negative as 888 shares advanced, against a decline of 1633 shares, while 162 shares were unchanged. Reliance, Kotak Mahindra Bank, and Wipro were the top gainers, while Sun Pharma and Airtel lost the most. Stocks in the News Shares of Shilpa Medicare rose half percent after company received US Food and Drug Administration (USFDA) approval for its ANDA, Imatinib Mesylate Tablets, 100 mg and 400 mg. Analysts at several brokerage firms believe that Reliance Industries’ Q3 performance was largely better than expected, but there was a surprise element in the petchem show. The oil-retail-to-telecom giant reported a better-than-expected 7.7 percent sequential growth in third quarter consolidated net profit at Rs 10,251 crore, driven by

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