Sensex, Nifty down this week on US-China trade conflict, global recession fears

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 China-US trade conflict and fears of an imminent global recession.

The Nifty ended 0.17% higher at 11,047.8, while the Sensex closed 0.10% firmer at 37,350.3.

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.