After volatile trading, the markets ended the day almost flat with the BSE Sensex up only 12.78 basis points to 51544.3 and the Nifty 50 index declining 10 bps to 15163.3.
Consumer durables, metals and oil and gas make losses; banking and IT gains
After volatile trading, the markets ended the day almost flat with the BSE Sensex up only 12.78 basis points to 51544.3 and the Nifty 50 index declining 10 bps to 15163.3.
The S&P BSE Sensex scaled a high of 51,804.58, while NSE Nifty reached high of 15,243.5 in the intraday trading on Friday. On the sectoral front, consumer durables, metals and oil and gas ended in the red, while banking and IT posted healthy gains.
“The benchmark equity indices ended flat for the third time in the last four trading sessions on February 12, but posted 1.01 per cent gains for the week. Nifty fell sharply post 1300 Hrs, but recovered post 1400 Hrs,” says Deepak Jasani, head of retail research at HDFC Securities.
Indian markets opened with the leftover vigour this week and slowed down even further during the rest of the week. However, Nifty 50 still managed to reach its life-time high during the week.
“Taking a look down memory lane, Nifty 50 took long 18 years to reach its 7,000 mark while it took only 7 years to cross 15,000. This dream run was only possible because of the unwavering progress our economy has made which led to the much-needed faith and confidence for Foreign Portfolio Investments to continue to invest in India,” says Nirali Shah, Head of Equity Research at Samco Securities.
With the earnings season largely behind, a host of global factors will dictate the market trend going forward, according to market experts.