India’s stock market bucked the global trend on Friday and rallied for the second straight session to end the week with gains. Indian equities were helped by the strong upward movement in Reliance Industries and HDFC Bank. The benchmark Sensex rallied 548.46 points or 1.5% to close at 37,020.14. The broader Nifty rose 161.75 points or 1.71% to close at 10,901.7.
After a volatile trading week, the Indian markets ended higher by 1.2% for the fifth straight week. Nifty Bank broke the four week winning streak and declined by 1.9%. The stock markets, despite the rising coronavirus cases and fresh lockdowns being imposed in several parts of the country, rose on the back of upbeat sentiments in global markets with respect to a Covid-19 vaccine.
Nifty Outlook: Nifty50 closed higher at 10901.70 level, +161.75 points, or +1.51 per cent. Today Nifty Support : 10800 and 10750 Resistance : 11000 and 10050.
