Markets: Possibility of moving up further likely

Equitiesseem to be on target forreaching the previous all-time highsif not bettering thesame in the festive month of Dussehra to Diwali

Markets have a mind of their own and last week was a great example of the same. They fell on the opening day of the week on expected lines on the back of the Hamas-Israel conflict, but bounced back more than they lost on Tuesday itself. At the end of the week, markets had actually closed in the positive. They lost on three of the five trading sessions and gained on two.

BSESENSEX gained 287.11 points or 0.44 per cent to close at 66,282.74 points while NIFTY gained 97.55 points or 0.50 per cent to close at 19,751.05 points. The broader markets saw BSE100, BSE200 and BSE500 gain 0.55 per cent, 0.56 per cent and 0.58 per cent respectively. BSEMIDCAP was up 0.71 per cent while BSESMALLCAP was up 0.86 per cent.

The Indian Rupee lost 2 paisa or 0.02 per cent to close at Rs 83.26 to the US Dollar. Dow Jones gained on four of the five trading sessions. It gained 262.71 points or 0.79 per cent for the week to close at 33,670.29 points.

In primary market news, we saw one listing in the week gone by. Shares of Plaza Wires Limited which had issued shares at Rs 54 listed on Thursday. Shares closed day one at Rs 80.23, a gain of Rs 26.23 or 48.57 per cent. On Friday, the share gained another 5 per cent to close at Rs 84.24, a gain of Rs 30.24 or 56 per cent.