On March 17, the Sensex ended 1,047.28 points, or 1.84 percent higher, at 57,863.93, and the Nifty was up 311.70 points, or 1.84 percent, at 17,287.
The National Stock Exchange of India (NSE) and BSE will remain closed on March 18 on account of Holi.
Wholesale commodity markets, including metal and bullion, will also remain shut. There will be no trading activity in the forex and commodity futures markets either.
On March 17, the Sensex ended 1,047.28 points, or 1.84 percent higher, at 57,863.93, and the Nifty was up 311.70 points, or 1.84 percent, at 17,287.
However, for the week BSE Sensex rose 2,313.63 points (4.16 percent) to end at 57,863.93 , while the Nifty50 added 656.6 points (3.94 percent) to end at 17,287.05 levels.
HDFC, JSW Steel, Titan Company, SBI Life Insurance and Kotak Mahindra Bank were among the top Nifty gainers, while losers were Infosys, Cipla, IOC, Coal India and HCL Technologies.
All sectoral indices ended in the green, with Nifty auto and energy indices rising 2 percent each, while Bank, FMCG, pharma and metal rose over a percent each.
Broader indices underperformed the main indices, with BSE Midcap and Smallcap indices gaining over a percent each.
“Nifty bulls celebrated Holi with green while short sellers got squeezed. The auspicious occasion of Holi was celebrated at Dalal Street as the benchmark Nifty enjoyed yet another session of strong gains and most importantly, was seen racing to hit the magical 17,500 mark,” said Prashanth Tapse, Vice President (Research), Mehta Equities.
“The technical landscape has turned aggressively bullish. This optimistic backdrop should take Nifty easily to its magical goalpost at 17500 mark and then aggressive targets at 18000 mark,” he added.
Indian rupee ended 46 paise higher at 75.80 per dollar on Thursday against Wednesday’s close of 76.26.
“USDINR spot closed 47 paise lower at 75.79 on the back of long liquidation and selling from large exporters. The US Fed was hawkish but they were in line with market expectations. This allowed for profit booking,” said Anindya Banerjee, VP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities.
“At the same time, being so close to the financial year end, $ selling from corporates tends to increase. Once 76 broke on spot, hedgers emerged.”
“We need to keep an eye on oil as Brent crude has bounced from 96 dollars a barrel and can once again move higher. If oil moves higher next week, then USDINR may not see much of a downside. We expect a range bound trading over the next week, between 75.50 and 76.30 on spot,” he added.
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