After seeing a strong rally on Thursday, Friday market witnessed profit booking once again pulling the benchmarks to close the weekend in the red.
On Friday, the BSE Sensex ended 87-pts or 0.22% lower at 38,736, down 2% for the week. The NSE Nifty50 closed down 35-pts or 0.3% to 11,548, down 2.2% for the week. The Nifty Midcap lost 2.2% for the week.
For the week, all sectoral gauges, excluding the Nifty Media and Pharma were down, The Nifty Infrastructure and PSU bank index declined ~3.7% each, Bank Nifty fell 2.8%, Energy, Auto and FMCG index were down 2.5% each and the Nifty IT index was down 2%, while Realty index declined 0.8%, on the other hand Nifty media rose 0.5% and the Nifty Pharma rose 2.7% for the week.
In the result upfront, IT major Infosys emerged with quarterly earnings on Friday with the Net profit at Rs.3,802-crore for the quarter ended 30-June, while revenue for growth nearly 14pc at Rs.21803-Cr, YoY
IndusInd Bank also on Friday posted a 38.30% rise in consolidated profit for the Q1 quarter to Rs1432.50-Cr, from Rs1035.72-Cr in the corresponding period last year.
Week Ahead, the major companies which are scheduled to report their Q1 earning result include ACC Ltd, Colgate Palmolive (India), Mindtree, Dabur India, Yes Bank, HDFC Bank, RBL Bank, and Bajaj Consumer Care.