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After two weeks of rally, the Indian equity markets seem to have taken a breather as indices ended almost unchanged. Benchmarks failed to carry forward the momentum as tumbling rupee, weak global cues and the no confidence motion in the monsoon parliament session dented the sentiment across the street. However, it was the midcap and smallcap space that came alive towards the fag end of the week.
Sentiment was also partially hit after index heavyweight like Bajaj Auto and Kotak Mahindra Bank missed market expectations. While Ultratech Cement and CEAT managed to beat estimates, Bajaj Finance, Bajaj Finserve and Hindustan Unilever announced results which were inline.
For the week, Metal index tumbled by 6%, Realty index was down by 3.6%, Pharma index fell by 3%, Auto index declined by 2.2%, Energy index was down by 1.7%, FMCG index was down by 1.1%, Infra index fell by 1.8%,
On the other hand, IT index gained by 1.1% and PSU Bank index was up by 1.3%.
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