The Sensex and Nifty ended marginally higher, rebounding from losses earlier in the session as European shares showed a muted reaction to the UK elections that resulted in a hung parliament, but indexes still posted their first weekly fall in five.
The broader NSE index ended 21 points or 0.22 per cent higher at 9,668.25, falling nearly 0.15 per cent for the week. The benchmark BSE index closed up 48.7 points or 0.16 per cent at 31,262.06, ending flat for the week.
Among BSE sectoral indices, IT index fell the most by 0.76 per cent, FMCG 0.72 per cent, TECk 0.59 per cent and consumer durables 0.55 per cent. On the other hand, realty index was the star-performer and was up 2.6 per cent, metal 1.79 per cent, auto 0.99 per cent and banking 0.52 per cent.
Top five Sensex gainers were Maruti (+3.00%), Tata Steel (+1.47%), Tata Motors (+1.4%), HDFC Bank (+1.3%) and Asian Paints (+0.83%), while the major losers were GAIL (-1.99%), ITC (-1.73%), Wipro (-1.61%), Infosys (-0.8%) and ONGC (-0.73%).
Infosys Ltd ended down 0.8 per cent, after falling as much as 3.5 per cent earlier, despite the company denying a media report that said the IT bellwether's promoters were looking to sell their entire stake
Meanwhile, embattled mobile carrier Reliance Communications continued its slide, falling as much as 3.2 per cent. The company had on Wednesday pushed back against Moody's and Fitch, disagreeing with the ratings agencies' downgrade
“The overhang of global cues will definitely be there on markets across the world,” said Devon Chokes, promoter, KKR Chokes Investment Managers.
The Union Government is due to post inflation data on Monday amid rising hopes for a central bank rate cut later this year.
Global markets
Sterling fell sharply on Friday as British elections seemed to leave no single party with a clear claim to power, sideswiping investors who had already weathered major risk events in the United States and Europe.
The pound shed as much as three US cents at one point in hectic trade, or close to 2 per cent, before steadying as the results waxed and waned.