*Representational Picture Courtesy-zeebiz.com

Good news this week was: Equity markets had closed in the green as investors looked beyond geopolitical turbulence and wagered on a positive start to the earnings season.

As it was, after rallying 323 points during the day Friday-Saturday, the 30-share BSE Sensex pared some gains to end 147.37 points, or 0.36 percent, higher at 41,599.72.

The broader Nifty scaled a fresh intra-day record of 12,311.20, before ending 40.90 points, or 0.33 percent, up at 12,256.80.

During the week, the Sensex advanced 135.11 points or 0.32 percent, while the Nifty rose 30.15 points or 0.24 percent.

With US-Iran tensions cooling off, the focus has now shifted to quarterly earnings and the Union Budget, traders said.

Investors are expecting measures from the government to revive the economy which has led to broad-based participation in equities, they added.

Infosys was the top gainer in the Sensex pack, spurting 1.47 percent ahead of its quarterly results.


Other gainers included Ultratech Cement, Maruti, Kotak Bank, Asian Paints and HUL.

ICICI Bank, IndusInd Bank, Titan and Bharti Airtel were among the losers, shedding up to 1.11 percent.

"Indian markets continued to rally on the back of buoyant global markets, correction in crude prices and INR appreciation. While the headline index is almost at all-time highs, the constituents fuelling the rally have changed significantly.

"The market is witnessing rotation from high quality financial and consumer stocks to a high beta industrial and infrastructure stocks. Further, high beta mid-caps and small caps have fared very well since the beginning of 2020," said Hemang Kapasi, Portfolio Manager - Equity Investment Products, Sanctum Wealth Management.
 

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