Indian share markets finished marginally higher for the week in a thin trade amid buying in pharma stocks, software stocks and capital good stocks. At the closing bell, the BSE Sensex closed higher by 28 points and the NSE Nifty finished up 5 points. The S&P BSE Mid Cap finished up by 0.8% while & S&P BSE Small Cap too finished up by 0.4%. FMCG stocks, realty stocks and oil & gas stocks finished in red.

IT stocks were among the top gainers with Infosys share price finishing up by 2% after a group of institutional investors asked the company to bring former CEO Nandan Nilekani back on to its board to settle the feud with the founders.

Cadila Healthcare share price surged 7% in today’s trade after the drugmaker announced that Zydus Cadila received final approval from the USFDA to market candesartan cilexetil tablets used for the treatment of hypertension. The company will manufacture the drug at its formulation manufacturing facility in Moraiya in Ahmedabad. It has more than 140 approvals and has so far filed over 300 abbreviated new drug applications since it commenced filings in 2003-04.

Asian stock markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.43%, while the Shanghai Composite & the Nikkei 225 fell 0.49% and 0.42% respectively.

The rupee was trading at Rs 64.07 against the US$ in the afternoon session. Oil prices were trading at US$ 48.17 at the time of writing.

In news from the economic sector, in a bid to improve the health of public sector banks (PSBs), the government has decided to set up an alternative mechanism to oversee the proposals for consolidation of state owned banks.

The decision would facilitate consolidation among the Nationalised Banks to create strong and competitive banks. The move aims at meeting the credit needs of the growing Indian economy and building capacity in the PSB space to raise resources without dependence on the state exchequer.