On the upside, the all-time high of 18888 and then 19,000 would be the targets for the Nifty.
Indian markets ended the week at a new record high, shrugging off concerns about a potential US rate hike, China’s slowing GDP, and India’s expanding trade imbalance in favour of positive domestic and global data and robust FII investment.
The BSE Sensex increased this week by 1.21 percent or 758.95 points to close at 63,384.58 while the Nifty50 increased this week by 1.41 percent or 262.6 points to close at 18,826.
This week, the BSE Large-cap index increased by 1.5%, the BSE Mid-cap index increased by 3%, and the BSE Small-cap index increased by over 3%.
“This week was a data-loaded week for both home and international markets. Positive emotions in domestic shares were underpinned by a steady stream of macroeconomic data that exceeded expectations. Notably, the positive CPI, WPI, and IIP figures helped to fuel investor confidence. According to Vinod Nair, Head of Research at Geojit Financial Services, “the domestic CPI data moderated, moving closer to the objective set by the RBI, mostly due to a tone-down in food inflation and a favourable base, which enhanced the chance of a rate drop before the year ends.