Markets may begin consolidating
The week gone by was a short one with just three days of trading. Volatility continued to dominate the trading during this truncated week with the Sensex first losing 368 points, touching a low of 10961 and then rallying on the last day very strongly to make an intra day high of 11492 points or a gain of 531 points.
The total difference thus became 899 points in just three days. The significant factor that led to the rally on Wednesday was the April series futures, which expired on that day.
Some fresh buying coupled with short covering led to this strong recovery on the last day. It may be mentioned that while the Sensex closed marginally in the positive, the Nifty failed to do so and inspite of a similar rally closed marginally in the red. World markets rallied this week once again. More
Text & Images: Business Line