Sensex, Nifty shuts FY19 on a high

Markets resumed its northbound journey after taking a breather in the previous week. Nifty surged by 1.5%, while Bank Nifty outperformed by gaining over 3% in the past five sessions.

 

In FY19, the Sensex and Nifty rallied ~17% and ~15%, respectively. Majority of the upmove came in the last three months of FY19 ahead of the general elections scheduled later this year. FII's flows and positive global cues boosted sentiments.

 

Sector-wise, the PSU Bank index was the top gainer, the index zoomed by 7%, the Media index rose by 3.6%, the Midcap 100 index was up by 3%, the Metal index gained by 2%, the Energy index gained by 2%, the Pharma index rose by 1.6%, the FMCG index edged higher by half a percent, the Infrastructure index was up by 0.6%, the IT index gained by half a percent. On the other hand, the Auto index ended almost unchanged.

 

The coming week promises to be full of action, as all eyes will be on the RBI policy meet scheduled on April 4, 2019. In addition, monthly auto sales numbers and PMI manufacturing and service data for the month of March will also be announced in the coming week. Global cues, currency, and crude oil movement will also be closely watched for further direction.

 

NIFTY FUTURE TIPS