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Nifty ends the week on a flat note; Nifty PSU Bank outperformed ending 11%

Bank Nifty outperformed, ending 1.54% higher. The standout performer was Nifty PSU Bank Index, which outperformed, ending 11% higher led by strong gains in SBI, BOB, and Punjab National Bank.

The market ended in the green, however, the week was highly volatile influenced by quarterly results, crude oil price movement and geopolitical news. Nifty ended the week on a flat note, up 0.08%, witnessing a strong recovery in the latter half of the week. Bank Nifty outperformed, ending 1.54% higher.

The standout performer was Nifty PSU Bank Index, which outperformed, ending 11% higher led by strong gains in SBI, BOB, and Punjab National Bank. In the key indices, Nifty IT ended 2.25%, higher WoW, while Nifty Realty index was the worst performing index ending 2.39% lower.

The week gone by witnessed heavyweights report results wherein Sun Pharma, Tech Mahindra, Cadila, Page Ind and United Breweries managed to beat street estimates.

By the time the Indian equity markets closed, the Rupee appreciated by 0.86%.  This was the best intraday rise in the last 14 months in the Rupee. Also, market observed a slump in the crude and dollar improved the frail macro indicators lighting a fire in the Nifty.

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