Markets this week: Nifty slips 0.5%, Sensex down 0.6%, Nifty PSU Bank tops charts

India Infoline News Service | Mumbai | March 25, 2017 10:46 IST

Analyzing Market Algorithms
Equity benchmark indices closed in the green zone for the second consecutive session on Friday, mainly supported by the banks, which pinned their hope on early NPA resolution.
 
The Nifty50 index closed above its crucial level of 9100 at 9108 mark, up by 21 points on Friday. The benchmark index throughout the week i.e. form March 20 to March 24 was down by 0.5%.
 
Whereas, the BSE Sensex before closing on Friday rallied 208 points, closing at 29,421, up by 89 points. The benchmark index throughout the week i.e. form March 20 to March 24 was down by 0.6%.
 
If we look at the sector wise performance, Nifty Auto was down by 1.2%, Nifty IT was down by 1.1%, Nifty Pharma was down by 0.8%, Nifty Infra was down by 0.5%, Nifty Junior was down by 0.4% and Nifty Bank was down by 0.2%, wherein all of them underperformed the broader markets.
 
Meanwhile, some indices outperformed the major equity benchmark indices, such as Nifty PSU Bank, which was up by 1.1%; and the Nifty Media index, which was up by 0.5%.