Nifty fails to hold 10,500 but posts 7-day winning streak; Sensex up 5% in 3 straight weeks

New Delhi: Positive momentum in the market continued for seventh consecutive session on Friday, helping benchmark indices post a healthy performance for the third week in a row.

The market shrugged off Syrian tensions that lifted crude oil prices to around four-year highs. Fall in March CPI inflation and better February industrial output growth boosted sentiment, but profit booking in banking space and caution ahead of Infosys earnings (due post market hours) caused volatility in the later part of the session.

The 30-share BSE Sensex was up 91.52 points at 34,192.65. The Nifty failed to hold 10,500 levels. It ended 21.90 points higher at 10,480.60, rallying five percent in three consecutive weeks.

“The market will react to the Infosys numbers in early trade on Monday. Indications are in favour that the upmove will continue and Nifty test 10,600 in near future,” Jayant Manglik, President, Religare Broking, said.

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