Domestic stock markets climbed up more than 1 per cent this week, with the benchmark S&P BSE Sensex index adding 557.38 points. The 30-scrip index climbed to 38,434.72 on Friday, whereas the broader NSE Nifty 50 gauge settled at 11,371.60, registering a gain of 193.20 points - or 1.73 per cent - for the week. Most sectors ended the week on a positive note on the NSE, led by the Nifty Auto (up 3.35 per cent) and the Nifty Metal (4.90 per cent) indices.
The Nifty Bank - comprising stocks of 12 major lenders in the country - rose 2.86 per cent for the week, whereas the Nifty PSU Bank index rose 4.11 per cent.
During the week, the Reserve Bank of India released minutes of its latest policy meeting, which hinted at space for further monetary easing with focus on revival of economic.
With the financial results being mixed, the focus now shifts to official data on the country's gross domestic product (GDP) for the April-June period due by the end of the month.
"The earnings season is almost over and it has been mixed wherein revenue was subdued while margins were better than expected due to cost-saving measures and lower raw material prices," said Ajit Mishra, VP -research at brokerage Religare Broking. "However, most companies shared uncertainty on growth getting back on track in the near term due to rising cases and lockdown situations, which may lead to a muted FY21. However, they expect a revival in FY22," he said.
"We expect volatility to remain high due to scheduled F&O expiry of August month contracts." The derivatives contracts for August are due to expire on Thursday, August 27.