Market post third weekly gains in row, up 565 points

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Stocks: The Sensex ended with third consecutive weekly gain by a solid 565.68 points to conclude at 34,192.65, while the broader Nifty reclaimed to close above the key 10,400-level at 10,480.60.

Despite volatility, key indices pocketed modest gains throught-out the weeks trading days, only seen for second time since last one year as the investor sentiment remained buoyant on earning optimism, while remained resilience to incessant global uncertainties.

Investors stayed-put on strong domestic market fundamentals, while easing trade war tensions following Chinas decision to further open-up its economy and lowering tariffs played supportive.

Surging crudeoil prices and geo-political tensions over syria did bring volatility, but least bearing on market sentiment.

Investors looked forward on earning optimism amid of robust industrial production and cooling retail inflation further strengthened market fundamentals. IIP grew 7.1 per cent in February while CPI inflation rate slowed to 4.28 per cent in March from 4.44 per cent in February.

The BSE Sensex started the week flat at 33,653.61 and hovered between high of 34,313.14 and low of 33,578.91 before closing the week at 34,192.65, showing a gain of 565.68 or 1.68 per cent.

(The Sensex gained 1,030.43 or 3.16 per cent during previous two weeks session)

The Nifty resumed the week at 10,333.70 and traded between 10,519.90 and 10,328.50, the index finally closed at 10,480.60, up 149.00 points, or 1.44 per cent.

In the broader market underperformed key indices with both midcap and smallcap shares gaining slightly.

Buying was led by IT, Realty, Metals, Teck, Consumer Durables, Capital Goods, Banks, IPOs, FMCG, Power and Auto sectors.

While, Oil&Gas, PSUs and HealthCare saw profit- booking. .

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