Weekly wrap: Banks, metal, oil & gas aid Sensex regain 10K
March 30th, 2009
During this week the Indian equity markets surged in line with global peers. The benchmark indices Sensex closed above its psychological 10,000 and Nifty above 3100 level. The Sensex and Nifty were up 12% and 10.5% respectively. All BSE sectoral indices ended in the green; gains at least 5%.
Experts like Jai Bala of Reliance Equities International and Hemang Jani of Sharekhan feels this rally has a lot of leg to go higher. However, Bala was quick to caution that he doesn’t see markets going vertically up.
Jani feels the market will give opportunities to play for a 15-25% kind of a move both in the midcap and the largecap space.
The Nifty Junior gained 10.3% and CNX Midcap Index was up 5.5%. The BSE Small-cap Index was up 3.8%.