Today's Top Gainer
Note:Top Gainer - Nifty 50 More
Market resumed its upward momentum at the start of the week with NSE benchmark index Nifty posting its highest weekly close.
Retail inflation rate touched a 5-month high of 2.86% in March. On the other hand, industrial production stagnated in the month of February. The IIP rose a mere 0.1% in the month of February 2019, compared with growth of 1.7% in January 2019 and 6.9% in the same month a year ago.
Meanwhile, the Meteorological Department has forecast a ‘near normal’ monsoon this year, with rainfall likely to be 96% of average. However, weak El Nino conditions are expected to prevail through June-September monsoon season this year.
The rally which propelled at the start of the week was matched by a sharp profit booking on the last trading day of the week as traders and investors preferred to take some money off the table.
IT index gained 1%, Bank index rose 0.93%, while Pharma index ended flat. On the other hand, PSU Bank index witnessed some profit booking and fell by 3%, Realty index ended 2% lower.
For the week, Nifty edged higher by 0.94%, while Midcap 50 index was down by half a percent. PC Jeweller was the top F&O gainer, surging 29.7% during the week.
Coming week, markets would react to the Q4FY19 earnings of major heavyweights like Reliance Industries & HDFC Bank.