Markets extended winning streak to the third consecutive week as Nifty ended above the 10,750 levels. Sentiment got a fillip after the Reserve Bank of India retained its neutral policy stance raising hopes that probably there would be no more rate hikes in the near future.
Pharma stocks were the flavour of the week as heavyweights like Sun Pharma, Lupin and Dr Reddy’s Labs stole the limelight. PSU Bank stocks too were in demand in anticipation of the crucial meet between Finance Minister Piyush Goyal and PSU Bank Heads.
Going forward, all eyes would be on US President Donald Trump when he meets North Korean leader Kim Jong Un on June 12.
Going forward, all eyes would be on US President Donald Trump when he meets North Korean leader Kim Jong Un on June 12.
Sugar stocks also were in demand after the Union Cabinet approved a Rs8,000cr bailout package for the sugar industry to help the cash starved mills clear cane dues of Rs22,000cr.
For the Week, Nifty gained by half a percent, while Bank Nifty ended with losses of a percent.
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