The momentum is likely to continue and markets expected to touch new highs. The market will track global cues as no major domestic events are lined up in the sort term, say analysts
The Nifty Bank fell over 100 points on Friday as traders preferred to book profits at higher levels, but it closed with gains of nearly 1% for the week ended 23 February.
On Friday, Jio Financial Services shares jumped over 10 per cent and touched a new high of Rs 347. The surge propelled the company's market capitalisation on BSE to cross the Rs 2 lakh crore mark for the first time., Companies News, Times Now
The banking index fell nearly 100 points and formed a Long-Legged Doji kind of candlestick pattern on the daily charts. The Nifty50 rose over 160 points to hit a fresh record high.
The resilient domestic buying is providing the main support to the rally in the market, and the strong performance of the economy and improving corporate earnings are also a solid fundamental support to the markets, according to analysts.