Though the mid and small cap indices surged 1.17% and 1.43% respectively, Nifty Bank underperformed losing 1% led by the PSU Banks which lost 4.83% whereas private banks lost 1%. The Information Technology (IT), FMCG and Metal sectors outperformed gaining between 4-5% taking cues from the strong rally in base metal prices on LME. Markets continued its rally in the last week ignoring the noises like the weakening of the rupee, rising bond yields and spurt in base metal prices. For the week, Indian markets will face volatility ahead of the April month Future and Options (F&O) series expiry. NOT A SMOOTH RIDEMarkets continued its rally in the last week ignoring the noises like the weakening of the rupee, rising bond yields and spurt in base metal pricesFor the week, Indian markets will face volatility ahead of the April month F&O series expiryThe writer is VP- Retail Research, Motilal Oswal Securities Ltd

Source: dna April 23, 2018 00:00 UTC