Nifty Level

Benchmark Sensex and Nifty bounced back on Friday after a three-day decline following buying in index major Infosys and Tata Consultancy Services amid a firm trend in global equities. The 30-share BSE Sensex gained 303.15 points or 0.51 per cent to settle at 60,261.18. During the day, it jumped 460.23 points or 0.76 per cent to 60,418.26. The broader NSE Nifty rose by 98.40 points or 0.55 per cent to end at 17,956.60. From the Sensex pack, Tata Steel, IndusInd Bank, Infosys, UltraTech Cement, NTPC, Bajaj Finance, Hindustan Unilever, Tata Consultancy Services, ICICI Bank and Maruti were among the major winners. Titan, Nestle, Larsen & Toubro, Axis Bank, ITC and Asian Paints were among the major laggards. HCL Technologies and Infosys recovered from early losses to end in green. Infosys on Thursday reported a better-than-expected 13.4 per cent rise in profit for the December quarter and raised its annual sales forecast on a strong deal pipeline even as it warned of "constraints" in

The 10-year average P/E for the Nifty index is 15 times - nearly 14 per cent below the current level

The long trend is obviously bullish but centred on Budget newsflow

The Nifty Bank has been a strong driver after the bank recap plan