Equity benchmarks continued with its northbound journey over a sixth consecutive week. As a result, Nifty ended the week at 11194 points, up by 292 points.

Broader markets performed in tandem with the benchmark as Nifty midcap rose 1.8 per cent while small-cap rose 2.8 per cent. Energy, financials and IT sectors outshone while pharma and FMCG sectors took a breather during the last week.

Going forward, experts maintain a positive stance with a target of 11400 points at Nifty, whereas mid-cap and small-cap space may catch up and outperform the benchmark in coming weeks. Any temporary breather should not be construed as negative. Instead, it should be capitalised on to accumulate quality stocks amid ongoing result season.

It is being believed that the Nifty has formed a higher base around 10900 point mark and it may hold in the coming week.

In the commodity market, Brent Crude prices closed higher at US$43.8 per barrel as compared to previous week’s closing price of US$43.8 per barrel while the gold prices ended higher at $1891 per ounce as compared to previous week’s closing of $1811 per ounce.

Bond yields ended broadly flattish at 5.82 per cent as compared to previous week’s closing price of 5.81 per cent.