The benchmark indices started the week on a bullish note on positive global cues, however midway it lost its momentum and started consolidating amidst mixed global cues and inflation data released by the RBI.
The unending woes from Korean peninsula acted as a resistance for the equity indices. However, overall both the Nifty and the Sensex made up for the most of the losses incurred last week.
The Indian market condition remains in Uptrend Under Pressure.
On the sectoral front all the sectors posted gains for this week. Nifty Pharma (+5.63 pct), Media (+1.97 pct) and Bank (+1.81 pct) indices were the top three sectors to post gains.
The retail inflation data for August shoots up to 3.36 pct which was highest in five months. The inflation is however still below the Reserve Bank of India's medium term target of 4 pct.