Indian benchmark indices ended the week higher on the back of sharp rupee appreciation and fall in global crude prices in the last session of trading.
Bombay Stock Exchange Sensex closed at 35011, up by 1662 points or 5.0 per cent while the National Stock Exchange Nifty closed at 10553, up by 523 points or 5.2 per cent for the week.
Equity benchmarks snapped a two week's decline and closed sharply higher by more than five per cent during the previous week owing to the positive global cues and decline in the crude oil prices.
Nifty started the week on a positive note and gained from strength to strength as the week progressed. Intra-week declines were bought into as index rallied higher to form a weekly high of 10606 on Friday's session.
Among the Nifty constituents, banking, IT, auto, cement, capital goods, oil and gases, FMCG and metal stocks were the major gainers in the index.
Broader markets also witnessed sharp a rebound during the previous week as the Nifty Mid cap and small cap indices closed higher by 7.1 per cent and 8.6 per cent respectively.
In the commodity market, crude prices closed lower at about US$72.6/barrel as compared to the previous week's close of US$76.4/barrel. While, gold prices also ended slightly higher at $1236/ounce as compared to last week's closing price of $1234/ounce.
- These five factors may decide the way of Indian share markets
- Accumulate quality stocks for next leg of up move in share market
- Good buying opportunity in the market ahead of General Election
- Share market may turn stock specific amid ongoing consolidation
- Possible temporary breather cannot be ruled out in the share market