Rangebound trading, as the year fluctuates in market potential for a close ..

 IT and pharmaceutical stocks continued to move up, with sectoral gauge at 3.23% and 1.15% respectively on the NSE in the holiday week.

The domestic stock markets ended the holiday week on Thursday, but the S&P BSE Sensex index hit a record closing high. The 30-share index lost 529.36 points or 1.14 percent to close at 46,973.54 on Friday, while the broader NSE Nifty 50 benchmark climbed 148.15 points or 1.09 percent to close at 13,749.25, a 11.3 point shy of a record previous week high of 13,760.55.

Both indices ended the week on a flat note. The Sensex gained 12.85 points or 0.03 percent this week, but the Nifty lost 11.30 points or 0.08 percent. This was followed by seven consecutive weekly gains.

IT and pharmaceutical stocks continued to boom, with the NSE sector gaining 3.23 per cent and 1.15 per cent respectively. Cipla, Wipro, Infosys and Sun Pharma were the biggest gainers among the 50 stocks of Nifty, with a gain of 3.11-5.19 per cent.

On the other hand, the Nifty Bank and PSU Bank indices were down 1.02 percent and 3.50 percent respectively. ONGC, IndusInd Bank, Hindalco and Bharat Petroleum, with losses between 4.20 percent and 6.11 percent, were the worst hit among the 32 laggards in the index.

Analysts say some of the reforms cannot be ruled out in the near term, as foreign institutional investors block fund infusions in the Indian capital market during the holidays.

According to NSCL data, so far this year, Foreign Institutional Investors (FIIs) have invested F 62,648 crore in the recent rally in domestic markets, including 56,643 crore in equity alone.

With this, December is on its way to becoming the third straight month of net inflows into the capital market.

Analysts say FIIs are gaining momentum as a result of the optimism surrounding the COVID-19 vaccine and the rapid recovery from the global recession due to the epidemic, and as a result the domestic markets are on the rise.

"With the new year on our door step, the markets are likely to trade up to a limit with levels of 13,750-13,800 upwards and downwards to levels of 13,100-13,200. Going forward, the increase in bounce The nervousness and liquidity may be witness to the drying up. As a new margin norm, Nirali Shah, senior research analyst at Samco Securities, a Mumbai-based brokerage, said.

"Investors should keep an eye on private sector lenders, which are current Are consolidating and may accumulate at a slight decline, "he said.

Meanwhile, global cues are expected to drive market sentiment.

Britain and the European Union signed a free trade deal on Thursday, raising MSCI's World Equity Index by 0.19 percent. Seven days before Britain pulled out of the trade agreement, the final details of a narrow agreement with the European Union were written.

Analysts say further expectations in major economies are also prompting optimism to deal with the fallout from the coronovirus epidemic.