The S&P BSE Sensex closed at 38672, up by 508 points while the NSE Nifty closed at 11623, up by 167 points for the week.

Broader markets outperformed the benchmark indices as the Nifty Midcap and small-cap indices closed the week higher by 2.8 percent and 1.9 percent respectively.

The across sector participation supported by improving the market breadth and above average trading volumes signifies inherent strength of the market, which makes experts believe the Nifty may challenge lifetime high of 11760 points in coming weeks.

Structurally, the key point to highlight is that the current rally of over 1045 points off February low 10585 points is the longest since August 2018 as it is larger compared to October-December 2018 rally of 936 points in magnitude. This signifies a structural improvement.

Experts believe higher base formation has helped cool off the overbought condition, in turn making market healthier, thus, they recommend investors to accumulate quality stocks.