Sensex, Nifty eke out gains, end week lower

Reuters Bengaluru, Karnataka Aug 16, 2019, 04.28 PM(IST)

File photo of Bombay Stock Exchange (BSE) building in Mumbai. Photograph:( Reuters )

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Nifty ended 0.17 per cent higher at 11,047.80, while Sensex closed 0.10 per cent firmer at 37,350.33.

Indian shares ended a tick higher on Friday, powered by gains in banking stocks, but finished lower for the week with trading dominated by headlines about the Sino-U.S. trade conflict and fears of an imminent global recession.

The Nifty ended 0.17 per cent higher at 11,047.80, while the Sensex closed 0.10 per cent firmer at 37,350.33.

The Nifty and the Sensex shed 0.55 per cent and 0.61 per cent respectively during the three-day week, which had two market holidays.

The Nifty bank index ended 0.71 per cent higher, led by a roughly 4 per cent gain each in Punjab National Bank and Yes Bank Ltd.

Meanwhile, shares in oil-to-telecom conglomerate Reliance Industries Ltd climbed 10 per cent during the week, their best weekly performance since July 2018. Reliance unveiled the sale of a portion of its oil-to-chemicals business to Saudi Aramco and introduced new high-speed internet services.