Nifty continues to trade with corrective bias as the index declined for third consecutive weeks to close down by 0.8 per cent at 11724 points amid concerns over domestic liquidity and lingering trade war tension between the US and China.
Nifty scaled a fresh lifetime high of 11856 points as it registered a breakout above the last two weeks consolidation and closed at 11752 points level up on the back of positive global cues and strong foreign inflow.
Share market may turn stock specific amid ongoing consolidation since most of the times it has been observed that stocks with improved earnings have outperformed the market last week.
Equity benchmarks consolidated in a range while maintaining positive bias as it closed higher for a seventh consecutive week on Friday.
Equity benchmarks gained for the sixth consecutive week to close higher by more than 1 percent. Benchmark indices in the process closed the month of March at a six month high. Foreign investors have poured in over Rs.45,000 crore in Indian markets in March.
Equity benchmarks traded with high volatility and despite Friday’s sharp decline, the index closed higher for a second consecutive week.