Markets log fourth straight weekly gain

Sensex closed at 32,309.88, down 0.23%, while the Nifty ended at 10,014, down 0.1%

Weakness in pharma stocks following Dr Reddy’s disappointing results, saw the benchmark Sensex and Nifty end with losses on Friday, after hitting all-time highs a day earlier. The Sensex closed at 32,309.88, down 0.23 per cent, while the Nifty ended at 10,014, down 0.1 per cent. Shares of Dr Reddy’s fell six per cent, Lupin declined 4.3 per cent. Meanwhile, HDFC added another 3.2 per cent, Infosys rose 2.6 per cent and ITC, too, added 0.9 per cent. Both the benchmark indices ended one per cent higher for the week. This was the fourth straight weekly advance for the market. The benchmark Nifty has gained five per cent so far this month. HDFC and HDFC Bank have been the biggest contributors to the gains this month. So far in July, mutual funds have invested Rs 8,300 crore, while net inflows by overseas investors have stood at Rs 1,300 crore.