Indian equity benchmark indices gain 3 per cent this week

The Indian equity benchmark indices closed the session with gains for sixth straight day to clock the longest run of gains in seven months.

On Friday, Sensex rose 0.64 percent to close at 39,301.22 while the Nifty rose 0.65 percent to end at 11,661.75. For the week, Sensex and Nifty closed higher by 2.9 per cent and 3 per cent respectively. The BSE Midcap and BSE Small cap indices closed the gains of 4.6 per cent and 2.77 per cent respectively for the week.

The week ended on Friday, 18 October, saw one of the stellar listing of IRCTC. The IPO which had a price band of Rs. 315 to Rs. 320 listed at more than double i.e. Rs. 650.

On global front, Brexit deal is the biggest positive mover for the week. The brexit deal conclusion boosted the sentiment of Europe centered stocks such as Tata Motors, Motherson Sumi, Tata Steel etc. Tata motors gained 13 per cent during the week. It also clocked one of its biggest single day gains since last six months.

The coming week is going to be action packed with more than 300 companies expected to report their second quarter earnings. Market leaders such ICICI Bank, SBI, Tata Steel, PNB Housing, ITC will give the direction to the markets.