The benchmark NSE Nifty50 and the S&P BSE Sensex indexes each settled about 0.2% higher at 22,402 and 73,853, respectively. Nifty on Wednesday ended 34 points higher to form a Doji candle on the daily chart which indicates indecisiveness prevailing in the marketplace at the current juncture.
The NSE Nifty 50 settled 0.14% higher at 22,368, while the S&P BSE Sensex rose 0.12% to 73,738. They have gained about 1.7% each over the past three sessions.
Indian benchmark equity indices defied global weakness to close higher on Friday, boosted by HDFC Bank, although the gains were not enough to prevent their first weekly loss in five on worries over the Middle East conflict and U.S. rates.
India s benchmark indices hit new highs on strong global demand expectations. Analysts suggest buying on dips and selling on rallies strategy. US stocks rise, European shares slip ahead of ECB decision. MACD signals bullish trade on select stocks.
The Nifty 50 ended flat at 22,513 points, and the pattern on the daily chart suggests that the index is consolidating after a sharp run-up, which is a healthy sign.