A smart rally on the Budget day pushed the market to end the week higher with Nifty reclaiming its crucial 8,700 mark, however, the cautious sentiment ahead of the Reserve Bank of India’s policy meeting and visa woes on the IT sector kept the momentum slow in the last two trading sessions.

During the week ended February 03, the S&P BSE Sensex added 1.3% or 358 points to settle at 28240, while Nifty50 gained 1.2% or 100 points to close the week at 8741.
Sectors and stocks

The week saw BSE Realty index gaining 5%, followed by the BSE FMCG index (3.4%), the BSE Bankex index (2.5%), the BSE Healthcare index (1.8%), the BSE Capital goods (1.8%), the BSE PSU (1.6%) and the BSE Consumer Durables (1.1%).

The BSE IT index, on the other hand, shed 1.9% after legislation was introduced in the US House of Representatives, which among other things, calls for more than doubling the minimum salary of H-1B visa holders to $130,000.

MARKET NEXT WEEK: The investors will took cues from the strong US jobs growth data which pushed the Wall Street higher on Friday. Index of Industrial Production (IIP) data due on Tuesday and Reserve Bank of India’s policy meeting scheduled for Wednesday will also be under investors’ radar.
Source: business-standard.com