Indian markets continued it rally. Short trading week helped the markets rally around 4%. Both Sensex and Nifty surged 4%. Some of the stocks made a marvelous recovery. RIIL surged 160%, Jaicorp by 50%. Midcap index was up 6% in the week. Indices open strong but lost its luster in the closing session. As mentioned that the Nifty has resistance at 3400-3450 levels and some correction or profit booking is expected. Somehow Nifty managed to make a high of 3400.
Bse Sensex closed at 10803 up about 60 points after making an intraday high of 10932. Nifty made an intraday high of 3401 and closed down at 3342 nearly flat.
Inflation for the week ended 28th March was at 0.26% as compared to 0.31%. IIP data were also announced today. IIP for Feb has come in at -ve 1.2% against 9.5% year on year. But still our markets rallied, coz the numbers were better then the expections. Market men expected -ve 1.86%.