A heap of buy orders greeted the Indian market on Friday. It was a promising day for the equities as the market cheered the victory of two political queens: Mamata and Jayalalithaa. However, as closing bell neared, the benchmark indices managed to hold to only half of the gains, thus, wrapping the week with the cloud of uncertainty hanging over investors.
The Sensex closed at 18531.28, up 195.49 points or 1.07% and the Nifty ended at 5563.80 up 77.65 points or 1.42%. The breadth of the market was encouraging for bulls. About 1634 shares advanced, 1195 shares declined, and 812 shares remained unchanged.
Dilip Bhatt, joint managing director of Prabhudas Lilladher said the optimism in market may continue on the back of sobering commodity and crude prices. In the short term, he added, the Nifty is expected to see 300-400 points jump by June end.