August 16, 2019 / 5:45 AM / 2 months ago

Sensex, Nifty eke out gains; but end week lower

A man walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, May 20, 2019. REUTERS/Francis Mascarenhas

(Reuters) - Indian shares ended a tick higher on Friday, powered by gains in banking stocks, but finished lower for the week with trading dominated by headlines about the Sino-U.S. trade conflict and fears of an imminent global recession.

The Nifty ended 0.17% higher at 11,047.80, while the Sensex closed 0.10% firmer at 37,350.33.

The Nifty and the Sensex shed 0.55% and 0.61% respectively during the three-day week, which had two market holidays.

The Nifty bank index ended 0.71% higher, led by a roughly 4% gain each in Punjab National Bank and Yes Bank Ltd.

Meanwhile, shares in oil-to-telecom conglomerate Reliance Industries Ltd climbed 10% during the week, their best weekly performance since July 2018. Reliance unveiled the sale of a portion of its oil-to-chemicals business to Saudi Aramco and introduced new high-speed internet services.

Reporting by Sachin Ravikumar and Chris Thomas, Editing by Sherry Jacob-Phillips

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