It was a fantastic week of market. Markets extended winning streak to the 4th consecutive week ahead of the general elections. Banknifty index, Midcaps and small cap also participated in this rally during the week.
CPI inflation rising for the first time in four months. CPI at 2.57% in February compared to a revised 1.97% in Jan. Meanwhile IIP slip below 2% and WPI rose to 2.93% vs 2.76%.
Nifty surged over 3.5% (390 points) against previous the week. Banknifty also continued the journey and closed on all time high. Banknifty climbed a 1619 (5.5%) points on this week. However, the IT index was under pressure after the Indian rupee strengthened against the US Dollar.
USDINR fell to nearly 5-month low. European market touched a 5-month high. FIIs net buyers nearly $2/bn during
Sector wise, Private Bank index shot up by 6%, Energy index rose by 4.5%, Infra index rose by 4.4%, Midcap 100 index gained by 2.7%, Metal index was up by 2%, Auto index rose by 2% and FMCG index ended almost unchanged.
For the week, Nifty gained by 3.5%, while the Bank Nifty zoomed higher by 6%
Updated : 09.03 AM / 16th March 2019