In a testing week for the markets, the BSE Sensex and NSE Nifty slipped by 1.6 and 1.4 per cent respectively. The broader S&P CNX 500 was down 0.9 per cent, in a week marked by bomb blasts in Mumbai, slipping IIP growth in May and higher inflation figures for June.

JSW Energy's induction into the futures and options segment led to increased activity in the counter and gains of 14 per cent over the course of the week's trade.

The stocks of Power Finance Corporation and Rural Electrification Corporation featured among major gainers, up 9 per cent each. Government discussions over reforms to curb lending losses, which may result from the possible insolvency of State electricity boards, lent support to share prices of both companies.

The stock of Adani Power was another strong gainer in the power space, up 4 per cent on receiving conditional environmental clearances for its 2,640 MWplant in Dahej, Gujarat.

The stock of PTC India gained over 3.2 per cent on reports that the company may be looking to launch two private equity funds to bolster their financing capabilities.

In the pharma space, Glenmark Pharma received the final nod from the US FDA to market a new tablet for treating cirrhosis, in addition to receiving Rs 110 crore from international pharma major, Sanofi Aventis, as part of its licensing deal. The stock was up 7 per cent by the end ofthe week.

Capping off the top gainers in the pharma space was Dr. Reddys Labs which gained 3 per cent on receiving the USFDA nod to market a new drug to combat clotting issues.

Among the companies that were hammered this week was the poster boy of the IT space, Infosys . The stock shed 8 per cent on a relatively weaker-than-expected set of first quarter results.

Spanish bank Santander's decision to return its UK call centre operations to an in-house operation led to a sharp drop of 7 per cent in the scrip of Mphasis which used to handle the operations.

Bucking the trend in the IT space — the BSE IT index shed almost 6 per cent by the week's end — was the stock of Tata Consultancy Services . The stock posted a gain of 4 per cent on Friday on the back of a solid set of June '11 quarter numbers.

Reports cited a possibility of slowdown in transactions of real-estate players. The BSE Realty Index was down 2 per cent. The shares of HDIL and Unitech slid 7 per cent.

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