Sensex scores hat-trick...Up for 3rd straight week

Nifty adding ~25 points or 0.4% to close at 5084 while Sensex gained 0.5% to close at 16,994. An eventful week ended on a flat note with the NSE Nifty adding ~25 points or 0.4% to close at 5084 while the BSE Sensex gained 0.5% to close at 16,994. The benchmark indices surged slightly higher extending its winning streak to the third straight week. The BSE Capital Goods, FMCG and the Metals index were among the major losers. On the other hand, BSE IT index, Oil & Gas, Realty and Auto were among the top gainers. A spate of domestic bad news was countered by encouraging external developments, especially from the eurozone. The RBI announced a 25 bps hike in policy rates. But it hasn’t scaled down its hawkish stance. It could go for one more rate hike, especially if inflation doesn’t cool and the rupee remains under pressure.