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The Nifty moved in a 150 point range and ended trade on a flat note last week, weighed down by mixed global cues. It finally settled at 10,821.85, closer to the week’s high.
However, only a handful of index majors helped the Nifty sustain at higher levels, while the decline continued on the broader front. A strong surge was seen in select banking, pharmaceutical and fast moving consumer goods (FMCG) majors on Friday, which helped it recoup losses and close flat.
With no major event locally, global cues would continue to dictate the market trend. The prevailing consolidation in the Nifty would end next week, but its impact will be higher if the broader market also joins in.
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