Relief for investors as equities, rupee edge up, but caution prevails

India's equity markets ended the week with modest gains, even as investors lacked conviction about the road ahead. Benchmark indices traded with a mild positive bias through Friday’s session, supported by a stronger rupee. But profit booking at higher levels erased much of the intraday gains, reflecting the fragile underlying sentiment.

- Abhinaba Saha & Mayur Bhalerao

The Sensex rose 0.24% over the week to close at 75,415.35, while the Nifty gained 0.32% to end at 23,719.30. Analysts said the Nifty’s failure to hold above the crucial 23,800 mark for a second straight session signalled weak momentum, keeping markets stuck in a narrow range through the week.

Brent crude oil eased to around $105 a barrel from $109.26 last Friday amid some modest progress in US-Iran peace talks.