Sensex, Nifty end the volatile week with decent gains

The Indian benchmarks Sensex and Nifty ended the volatile week on a positive note. The markets are facing large scale volatility due to uncertainty owing to slowdown in consumption and hopes of festive revival.

The 30-share benchmark index represented by Sensex ended the week higher by 0.70 per cent, while, the 50-share index Nifty clocked gains of 0.90 per cent for the week ended on 11 Oct 2019. On Friday, Sensex rose 0.65 percent to end at 38,127 and the Nifty rose 0.63 percent to 11,305.05 to close at 11,305.05.

The week gone by saw high volatility, where Sensex touched an intra-day low of 37,480 on Monday and high of 38,338 in day trade of Friday. During the week, key trigger for the domestic market was another bold step from the government with an aim to boost the consumption. The government raised the dearness allowance of the employees by 5 per cent, taking it to 17 per cent.

The holiday-truncated week also saw the beginning of the earning season which started with mixed trends. The IT majors TCS and Infosys came with their Q2FY20 results. While, TCS missed the Street estimates as it reported a very subdued revenue trend, Infosys reported decent gains in topline and bottomline.

In the upcoming week, as much as 86 companies are set to report their Q2FY20 numbers. Key results to watch out for will be RIL, L&T FINANCE HOLDINGS, Larsen & Toubro Infotech and MCX.