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Nifty extends winning streak to third consecutive week

The IIP and CPI data, which was released on Thursday, gave the economy a double boost.
The relief rally during the week turned out to be a stronger up move as the Indian equity markets extended winning streak to the third consecutive week. The IIP and CPI data, which was released on Thursday, gave the economy a double boost. IIP rose 7.1% in February, while the CPI showed retail inflation at 4.28% in March, the fourth successive month of decline. However, rising crude oil prices and geopolitical risk would be important factors that could impact the sentiment going forward.

The results season would take center stage as India Inc are once again scheduled to release their quarterly as well as the annual results. HDFC Bank, TCS and IndusInd Bank are among the big names releasing their quarterly numbers next week.

The IT stocks were the star performers followed by Bank Nifty, metals and infra stocks. However, PSU Banks and select pharma stocks ended with losses.