Bank Nifty also managed to end the week at record closing highs. The Sensex gained 2.3 percent and Nifty rose 2.4 percent in the week gone by..
Indian market climbed to record high in the week ended July 27 supported by positive earnings from India Inc and buying seen in banking, metal and realty space.
Bank Nifty also managed to end the week at record closing highs. The Sensex gained 2.3 percent and Nifty rose 2.4 percent in the week gone by.
In the Friday’s trading session Nifty hit a record high of 11,283.40 and Sensex touched a record high at 37,368.62.
ITC (27.27 percent) is a major contributor to the Nifty’s rally followed by Reliance Industries (13.90 percent), IOC (13.31 percent), ICICI Bank (10.09 percent) and HDFC (8.37 percent).
“Bulls signed off the week in style on a strong note in uncharted territories with a bullish candle after registering a gap up opening,” Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.
He feels interestingly across the time frames on weekly and monthly charts things are looking very promising with robust bullish candle formations.
During the week the Sensex rose 840 points to close at 37,336.85 and Nifty added 268 points to close at 11,278.
