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A maturing market amid the mayhem
Bharti Airtel was also the top Sensex loser. Smaller competitor Idea Cellular closed 2.85 percent lower.
The telecom sector has gone out of favour with investors after firms slashed call tariffs, raising concerns about their profitability.
Bharti Airtel’s shares have dropped as much as 34 percent since October, while rival Reliance Communication has lost 44 percent over the same period.
RIL shares had fallen more than 3 percent over the last three days in the absence of any major announcement at the company’s annual general meeting earlier this week.
Indiabulls Real Estate, HDIL and Unitech slipped over 5 percent each and ended as the top losers in the index. Phoenix Mills was the only counter on the index that closed in the green.
Hero Honda and Maruti Suzuki rose 4 percent each in trade, ending as the top gainers among the Sensex components. Exide Industries surged 8.6 percent.
All stocks in the metal index closed in the green, with Gujarat NRE Coke and Sesa Goa leading the pack with gains of over 7 percent each.
The Economic Times said the company was close to a nearly $6 billion acquisition and the likely target was the assets of petrochemicals firm LyondellBasell.
The BSE Sensex posts its first weekly gain in three weeks helped by India’s top lender SBI and Sensex heavyweight ICICI Bank.
Shares in SBI ended 3 percent higher at 2204 rupees posting its biggest rise in three weeks, while ICICI Bank which holds over 7 percent weightage in the 30-share Sensitive index ended 0.48 percent to 848 rupees.
The BSE Banking Index ended 1.7 percent higher on Friday while for the year it has gained over 70 percent.