The market, which remained range-bound for the better part
of the week gone by, ended it on a positive note.
The Sensex and Nifty closed close to 1 percent higher week
on week amid a mixed set of results from India Inc, some appreciation in the
rupee, weakening crude oil prices and positive global cues.
In the week ended November 16, the Sensex rose 0.84 percent
to 35,457, while Nifty rose 0.91 percent to 10,682.2.
On a weekly basis, the rupee appreciated around 1 percent
and ended at 71.92 to the dollar. Crude oil prices fell by over 4 percent to
end at $66.76 per barrel.
"Albeit Nifty50 appears to have registered a breakout,
above its 8-day old consolidation zone between 10,440-10,650 levels, it is not
looking that convincing enough as the said breakout is on the back of negative
advance:decline ratio and with a 64-point narrow range which depicted a small
bullish candle on daily chart where as a Hanging Man kind of formation on
weekly charts," said Mazhar Mohammad, Chief Strategist – Technical
Research & Trading Advisory, Chartviewindia.in.
The Wholesale Price Index (WPI) for October came in at 5.28
percent, as against 5.13 percent for September. The country's Index of
Industrial Production (IIP) for September was at 4.5 percent, as against 4.7
percent for August.
The volatility index (India VIX) was up 3.2 percent this
week. The BSE Largecap index rose 0.69 percent, while the BSE Midcap index
gained 0.36 percent and the BSE Smallcap fell 1.27 percent.
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