Mkts close 1% higher this week; banks, oil & gas gain

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The markets saw consolidation this week, as investors and traders looked cautious, ahead of budget on Monday. The Sensex and Nifty closed one percent higher at 14,913.05 and 4,424.25, respectively this week.

Among the broader indices, the Nifty Junior was up 0.2%. CNX Midcap and BSE Small Cap went up 0.5% each.

On the sectoral front, the BSE Metal Index surged 3.7%, as Tata Steel and SAIL gained 12.5% and 7%, respectively.

The BSE Bankex rose 2.5%, as Axis Bank, PNB and HDFC went up 6.5-6.8%. SBI rose 3.5%.

The Oil & Gas was the third biggest gainer, went up 2.3%. GAIL, BPCL and ONGC shot up 9-11.3%.

Among the frontliners, Suzlon lost 13.5%; Tata Motors fell 11.5%; Idea declined 6.5% and Reliance Communication fell 6.4%.

Education stocks were buzzers this week. Educomp Solutions surged 27% and NIIT gained 21%. Navneet Publication gained 12%.

In the smallcap space, BPL was up 46%. Ajmera Realty gained 25% and Edserv Soft rose 28%.

In the midcap space, Chambal Fertilisers gained 9%. Tulip Telecom rose 22% and IRB Infra surged 13%.