An evening walk down Dalal Street on August 24

Amid sombre global cues along with a weaker rupee back home, equity benchmarks managed to end the week on a negative note. The Nifty closed around 11,550-mark, while the Sensex saw cuts of almost quarter of a percent. 

Investors were eyeing outcome of a key meeting between US and Chinese counterparts to address trade tension issues, but there was no significant breakthrough seen yet, reports said. Along with it, the Indian currency managed to hover below 70 per dollar mark for the second consecutive day. Lack of strong domestic cues also weighed on the indices.

Friday’s weak move was led by selloff in banks, IT and auto names, while metals looked to offer some support. The Nifty Metal index was up almost 2 percent. In the broader markets too, midcaps ended with cuts of one-third of a percent.

The day began on a flat note, with the Nifty hovering close to 11,600, but the Street never really picked up pace through the day. A fall in financials from the word go was responsible for the indices to underperform today. Broader markets were in line with benchmarks as well.

For the week, both Sensex and Nifty have gained around a percent, while the Nifty Midcap index ended with gains of a percent.

At the close of market hours, the Sensex ended lower by 84.96 points or 0.22% at 38251.80, while the Nifty was down 25.70 points or 0.22% at 11557.10. The market breadth was negative as 1,166 shares advanced, against a decline of 1,496 shares, while 197 shares were unchanged.