The week that was, Nifty up for 5th consecutive week
Major concerns like rising crude oil prices, rising bond yields and weaker rupee were ignored.
The Indian equity markets surged higher extending winning streak to fifth consecutive week. Better than expected quarterly earnings from India Inc led the rally in the April series.
Major concerns like rising crude oil prices, rising bond yields and weaker rupee were ignored. The IT stocks witnessed profit booking while the PSU banking, energy and life insurance space were the top performers.
Meanwhile, TCS became the first Indian company to touch USD 100 bn in market capitalisation. It also entered the list of top 100 global companies by market cap.
Reliance Industries was also seen heading towards the US100bn market cap mark as the stock rose over 7% in the last five days. On the other hand, Maruti was in reverse gear on account of lower than expected quarterly earning.
For the week, Nifty and Sensex gained by 1.1% each.