in bad loans.
Other losers included ONGC (-3.6%), Mahindra & Mahindra (-5%), Reliance Industries (-3.6%), Maruti Suzuki (-3.5%). Data suggests 23 out of 30 Sensex companies ended in the red.
“The rally was not sustainable. Until there is significant improvement in the macro-economic situation, we do not see the Nifty breaking out of the broad range of 5,400 – 6,100,” said Tirthankar Pattnaik, Director, Strategist-Institutional Research, Religare.
The week also saw two major foreign brokerages — Goldman Sachs and Nomura — raise their targets on benchmark indices citing changes in political scenario and improvement in macro as well micro economic situations.