Week Ahead: Inflation data, US Fed policy, FII mood among key market triggers as Nifty 50 tests 21,500 this week
RBI). Frontline indices gained for sixth straight week as the NSE Nifty 50 and S&P BSE Sensex indexes rose about 3.5 per cent to log their best week since July 2022. Nifty 50 tested a new milestone at its lifetime high and Sensex also reached closer to the 70,000 level.
Also Read: Over 45 smallcap stocks rise 10-35% as Sensex reports longest weekly winning run in 3 years; do you own? The small- and mid-caps underperformed the blue-chips this week, but gained 1.16 per cent and 2.35 per cent, respectively, to fresh record highs. Bank Nifty surged by more than 5 per cent, highlighting strong investor sentiment in the banking sector. On Friday, the indices ended in positive territory over gains led by banking and IT stocks, including HDFC Bank, Infosys and ICICI Bank, after the RBI's policy decision and the upside in GDP growth forecast for the financial year.
Following the policy announcement, Nifty 50 breached the 21,000 mark for the first time and hit its all-time high of 21,006.10 during the session. The Sensex also hit its fresh record high of 69,893.8 in the session. Nifty 50 closed at 20,969.40, up 68 points on December 8, or 0.33 per cent while the Sensex closed the day at 69,825.60, up 304 points, or 0.44 per cent.
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