Mumbai: Despite a lacklustre week, markets recovered with minor gains as the benchmark Sensex gathered 69.19 points to rise to 28,668.22. On the other hand, the broader Nifty rose by 51.70 points and finished at 8,831.55.
Trading started on a sombre note as the investor minds were restricted by the policy decision of key central banks of Japan and US looming the sentiment as the consolidative trading week largely supported by global cues amid crude oil prices. The Bank of Japan kept the interest rates steady adding new policy measures to fight deflation.
The real recovery for the domestic market came after the US Fed decided to keep interest rates unchanged and subsequent global rally bolstered investors’ sentiments by allaying the fear FII liquidity stake at the moment. However, the rally was pulled-down during the weekend on lower global cues after crude oil prices turned volatile.
Further, profit booking in recently gained Banking sector amid looming futures and options derivative expiry next week led the key indices to end the week with mild gains. The Sensex resumed at higher points of 28,626.60 and hovered between a high of 28,871.92 and low of 28,462.33 before closing the week at 28,668.22, showing a gain 69.19 points or 0.24 per cent.
The NSE Nifty also gained by 51.70 points, or 0.59 per cent, to 8,831.55, after moving between a high of 8,893.35 and 8,757.30. Buying was seen in Metals, Oil & Gas, Realty, IPOs, PSUs, Consumer Durables, Auto, Capital Goods, HealthCare, Power, Teck and Bankex well supported by second line shares of midcap and smallcap companies shares. Meanwhile, FMCG and IT counters incurred profit-booking.