The markets opened on a tepid note on Friday but firmed up later. The Bombay Stock Exchange (BSE) Sensex closed at 3,354.14 points (up 16.84), while the National Stock Exchange S&P CNX Nifty closed at 1,056.20 (up 4.90).
The BSE witnessed a traded volume of Rs 1,098 crore, while it was at Rs 2,604 crore on the NSE. The market breadth was negative as the combined gainers-to-losers ratio was at 1,158:1,931. The market capitalisation ratio of the bourses was also negative at Rs 1,931 crore:Rs 2,036 crore.
Indices have advanced on lower volumes and that too on a negative market breadth. One reason for this slide is weekend profit sales, which is a sign of concern.
The 1,060-1,065 resistance level on the Nifty is still not surpassed and remains a short-term trendsetter.
The outlook for Monday
