A Climax Worth The Wait

Friday’s pullback was nothing short of a surprise, as rate hike, inflation and weak results marred the week. The markets saw a phenomenal recovery on the last trading session on Friday, as the index saw an intraday swing of almost 700 points. On the back of weak global cues, the BSE Sensex opened weakly at 14,064, touched an intraday high of 14,682, low of 14,032 and closed the day at 14,656 on brisk buying seen in power and capital goods stocks. The CNX Nifty opened at 4331.60, touched a low of 4235 and high of 4,422 and ended the day at 4413. The BSE Sensex was up 300 points (2.10 per cent) and the CNX Nifty up 80 points (1.86 per cent). On the weekly basis, the Sensex gained 2.