macroeconomic data, crude oil prices, global cues, and more. Despite the US 10-year bond yield surpassing 4.3 per cent, the dollar index reaching above 50, and Brent crude trading at over $90, the Indian market displayed remarkable resilience last week. Frontline indices Sensex and Nifty settled higher for the sixth consecutive session on Friday, despite a cautious global market.
The benchmarks recorded their second straight week of gains and posted their best week since two months, gaining nearly 2 per cent, each. Sensex closed 333 points, or 0.50 per cent, higher at 66,598.91 while the Nifty closed the day at 19,819.95, up 93 points, or 0.47 per cent. In the last six sessions of gains, Sensex has risen 2.73 per cent while Nifty has risen 2.94 per cent.
The BSE Midcap index closed with a strong gain of 0.92 per cent at 32,672 after hitting its fresh record high of 32,692.74 during the session. The BSE Smallcap index also hit its fresh record high of 38,369.21 during the session but ended at 38,266.53, up 0.43 per cent. Energy companies and public sector enterprises were top gainers, rising 1.4 per cent and 2.6 per cent, respectively.
The indexes have risen 3.4 per cent and 4.5 per cent, so far this week, driven by a rally in power stocks on a sudden surge in power demand in the country. Analysts see that the overall bullish sentiment is strong, with hopes of the Nifty reaching the 20,000 mark this week. Going forward, a buzzing week awaits the primary market with six new public issues to be rolled out for bidding, along with five listings across mainboard and small-and-medium enterprises (SME) segments.
Read more on livemint.com