Weekly Wrap - Nifty & Stock Market Updates

 Nifty gains 1.2%; Feb IIP at 9-month low; Infy Q4 nos eyed
The euphoria of pre-election rally helped the Nifty gain 1.2 percent during the truncated week. The index crossed another milestone of 6800 level, but it could not sustain that level due to profit taking in last trading session.

          Banks, capital goods and metals stocks pushed the index 81.95 points higher to close at 6776.30 for the week while the Sensex surged 269.46 points to 22628.96. Both have seen historic highs at 6819.05 and 22792.49, respectively.
According to experts, the market still has more steam left to go past 7000 level on the Nifty and 23000 on the Sensex. It has already priced in 225 seats that are likely to get by BJP-led NDA government but it has not factored in 250+ yet, experts believe.
Stocks in Action-

 Among the sectoral indices, BSE Bank, Power, Capital Goods, Metals and Realty indices gained 2-3 percent. Pharma and Auto climbed over a percent but IT fell half a percent.

     Drug maker Sun Pharmaceutical Industries was the biggest gainer among Nifty 50, surging 10 percent after the company on Monday said it would buy Ranbaxy for total equity value of USD 3.2 billion.
Week Ahead-

 Infosys, DCB Bank, IndusInd Bank, Mindtree, TCS, HCL Technologies, Wipro, Reliance Industries and Persistent Systems will announce their January-March quarter earnings.

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