Indian benchmark indices had another good week of trade with the Sensex one again ending the week higher.
Indian markets have underperformed global markets in the last few weeks, but, they are now showing signs of participating in the rally, thanks to good support from domestic institutions.
Another set of stocks that saw value buying this week were stocks from the IT sector. CLSA upgraded the sector to a buy, while reports of a TCS buyback, pushed stocks like Infosys and TCS higher. Banking stocks, apart from HDFC Bank were a little subdued this week, with good selling coming in on every rally in PSU banking stocks.
Indiabulls Housing Finance was another stock that saw good action after reports that this stocks would be included in the Nifty.
How far stocks would move would now depend on the global rally. The movement particularly in the US has been fast and furious and if the momentum continues we may see Indian stocks moving higher.