After Sensex, Nifty Rise For Second Straight Week, Analysts See Some Pressure Ahead

Domestic stock markets managed to register a second straight weekly gain as weakness in banking stocks offset strength in IT shares. The S&P BSE Sensex index and the broader NSE Nifty benchmark climbed 115.89 points – or 0.28 per cent – and 15.1 points – or 0.12 per cent – for the week. In the previous week, the benchmark indices had soared 1,406.32 points (3.54 per cent) and 436.5 points (3.74 per cent) respectively, following Budget announcements which some analysts say may support the economy in the long run.Overall trend in the markets was negative, with only select stocks helping the benchmark indices rise on a weekly basis. Only two of the eleven sectoral gauges on the National Stock Exchange (NSE) moved higher, led by the Nifty IT index which rose 1.05 per cent.