Bourses may keep registering higher peaks successively until early/mid-August
The market surged again last week on the back of several positive developments.
Tech stocks joined the party due to a strong revival on the US Nasdaq. The advent of the monsoon in the NE also boosted sentiments.
The Sensex closed at 3303.04 points, ahead by 3.84 per cent. The Nifty rose by 3.93 per cent to close at 1046.4 points. The Defty rose 4.27 per cent as the rupee jumped to a new high at 46.9.
Breadth remained excellent - in fact, it improved over previous weeks. Volumes remained fair and FIIs were notably enthusiastic.
The BSE 500 was ahead by 2.72 per cent as interest reverted to heavyweights. The Nifty Put-Call ratio has moved into an overbought zone at around 0.38.
Outlook: The major indices broke serious resistances during the week and the participation of the tech sector ensured that there was no
