Markets end week with over 2% gains

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It was another day of positive consolidation for the markets. The indices flitted between the red and green and closed marginally higher. Good global cues helped the Nifty hold on above the 5,250 mark. The Nifty closed at 5,262, up 16 points. The Sensex shut shop at 17,578, up 58 points. The markets clocked fairly good volumes. Turnover for the day was around Rs 94,000 crore.

For the week, however, the markets closed with good gains. Both the Nifty and Sensex closed up around 2.5%.

On the way up today was the telecom space. Stocks like Bharti , Reliance Communications , and Idea Cellular saw good buying interest.

Public sector banks like Punjab National Bank and State Bank of India also ended in the green. Hindustran Unilever and Reliance Industries were the others that gained in trade today.

On the way down were rate sensitives like DLF and Mahindra & Mahindra (M&M).

Private sector banks did not put up a good show today with stocks like Axis Bank , HDFC , and ICICI Bank closing in the red.