The 30-share benchmark index,Sensex,ended the week with a gain of 0.6 per cent at 17,694 points on Friday as opposed to 17,591 on the previous Friday. The Nifty 50,on the other hand,closed at 5,304 points,up 0.7 per cent compared with the previous weeks closing. Although the markets are likely to continue trading in the range bound mode,I expect the momentum to continue. Unlike the previous rally,where only a few selected sector participated,this time it will be more broad based, said RL Narayanan,vice president (equity and institutional sales),Bonanza Portfolio. Banking sector was the stellar performer during the week as the index went up by almost 5 per cent. It was followed by auto and PSU indices that registered weekly gains of 2.4 and 1.4 per cent respectively. Banking is going to be one of the sectors to watch out for during this calendar year. I expect all banking stocks,whether big or small or public or private,to do well, said Narayan. Narayan expects auto stocks to do well this year,particularly the ones that manufacture commercial vehicles. Tata Motors will emerge as the leader once again. This time,a robust growth in sales of passenger cars buoyed the stocks of auto companies. However,the rally in this index is limited. Going forward,companies that manufacture commercial vehicles will grow more than the ones with passenger cars. On the whole,markets will not go up in a hurry. Momentum and growth in the economy will slowly drive the markets this year. Moreover,the rally this time will be more broad-based. During the year,banks,consumer durables,real estate and PSU are a few indices that are likely to give good returns. These sectors are likely to yield good returns to investors. On commodities,Narayan expects the rally to continue. Commodities are not going to come down.
