Mumbai, Sep 13
The Indian equities displayed strong bullish momentum this week on hopes of stronger H2 FY26 earnings, driven by GST rationalisation and the benefits of monetary easing.
Benchmark indices Nifty and Sensex ended the week with a gain of around 1.32 per cent and 1.21 per cent, respectively, with the rally driven by auto and IT stocks. Midcap and smallcap stocks outperformed the benchmark indices.
The IT index exhibited its rally, driven by renewed hopes of a Fed rate cut, Infosys’ buyback announcement, and optimism over a revival in technology spending.
The Nifty advanced 373 points forming a robust bullish candle. Analysts said that, on the weekly chart, the index has broken out of a symmetrical triangle pattern with conviction, signalling the potential for further upside.