An evening walk down Dalal Street

The market ended a truncated week on a good note, as benchmark indices closed with strong gains. The Nifty ended the day at a record closing high, while the Sensex ended higher by almost 300 points. Having said that, it failed to hold 38,000-mark.

All sectors ended in the green, with maximum gains seen among banks, metals, FMCG, and pharma names, among others. Midcaps, too, saw a strong rally, rising over 1 percent.

PSU banks were the biggest gainers, possibly on reports of government nudging the RBI to relook PCA rules for banks. The Bank Nifty managed to reclaim 28,000, but is 200 points away from record close.

Stocks such as HDFC, Infosys, Maruti and Hero MotoCorp kept the Nifty away from 11,500-mark.