NIFTY Scales New Heights, Expect Sensex To Follow This Time Around

Markets were on a roll last week and even though there was extreme volatility, they continued their upward march. NIFTY has made a new high this week effectively on every trading session.

Index Performance: NIFTY vs. BSESENSEX

However, the BSESENSEX has yet to cross the high of 73,427.59 points which was made on 16th January. The new high made on Friday on NIFTY was at 22,297.50 points while BSESENSEX reached 73,413.93 points, short of previous high by a mere 14 points. This makes one believe that sooner than later this would be breached and also confirming that NIFTY is yet to make another high on Monday or Tuesday.

Weekly Market Wrap-Up

At the end of the week, BSESENSEX gained 716.16 points or 0.99 per cent to close at 73,142.80 points while NIFTY gained 172 points or 0.78 per cent to close at 22,212.70 points. The broader markets saw BSE100, BSE200 and BSE500 gain 0.70 per cent, 0.76 per cent and 0.74 per cent respectively. BSEMIDCAP gained 0.01 per cent while BSESMALLCAP was up 0.82 per cent.

Intraday Volatility and Market Movement

Markets gained on three of the five trading sessions and lost on two. On Thursday, markets opened in the red but rallied smartly to close in the positive. The intraday movement on Thursday between the low and the close was 1,076 points on BSESENSEX and 342 points on NIFTY. If one compares this to the weekly gains, it’s almost 1.5 times on BSESENSEX and double on NIFTY.