Mumbai, Jan 17 || The Indian equity benchmarks closed this week almost unchanged amid optimism towards Q3 earnings and renewed India-US trade discussions, even as caution persisted due to increasing geopolitical tensions.
Profit-booking in pharma, consumer durables, and autos weighed on indices during the week, while PSU banks and metals outperformed.
Nifty added 0.04 per cent during the week and 0.11 per cent on the last trading day, to touch 25,694. At close, the Sensex was up 187 points or 0.23 per cent on the last trading day at 83,570. It dipped 0.01 per cent during the week.
Analysts said investors focused on Q3 earnings, where IT and bank numbers provided a layer of confidence on growth and demand. The prolonged geopolitical tensions made FIIs risk-averse in emerging markets and raised bond yields.
On the earnings front, the IT sector gained attention after the industry’s bellwether revised its revenue guidance upward, while the broader IT space reported better-than-expected earnings growth.