Sensex, Nifty end flat, bank & pharmaceutical shares fall
BSE Sensex and Nifty ended higher for the week as Indian stocks held steady on Friday. Photograph: (Reuters)
The benchmark BSE Sensex and the NSE Nifty closed down today as disappointing quarterly earnings weighed on bank and pharmaceutical shares.
The benchmark BSE Sensex ended down 0.23 per cent to end at 32,309.88 and the broader NSE Nifty closed down 0.06 per cent to close at 10,014.50
However, both BSE Sensex and Nifty ended higher for the week as Indian stocks held steady on Friday.
The NSE Nifty was up 1 per cent for the week and BSE Sensex closed 0.88 per cent higher for the week.
Earlier in the day, Dr Reddy's Laboratories and ICICI Bank Ltd stocks fell 5.9 per cent and 3.6 per cent, respectively, after reporting weak quarterly results.
Dr. Reddy's profits halved in the quarter resulting in the stocks going down by as much as 6.5 per cent - its lowest since May 30.
ICICI Bank also took a beating falling 3 per cent after it reported an 8 per cent drop in first-quarter profit.
ITC Ltd gained today with the stocks jumping 2 per cent on strong quarterly numbers.