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Indian equities registered strong gains last week. The S&P BSE Sensex reclaimed the psychologically important 28,000 level after settling below that level in the preceding week. The Sensex jumped 749.86 points or 2.69% to settle at 28,532.11. The Nifty 50 index rose 237.10 points or 2.76% to settle at 8,809.65. The BSE Mid-Cap index rose 1.77%. The BSE Small-Cap index advanced 1.25%. The Sensex and the Nifty are up more than 26% since the February lows even as worries regarding earnings slowdown, lack of investment demand and regulatory logjam persist. Both the indices have managed to cross over significant medium-term hurdles, setting the stage for a new high soon.

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Nifty close 7749 points:The Nifty opened the week slightly better and went up all the way to make a high of 7940 points but once again failed to close above the 7900 points mark which is the crucial resistance which we have been highlighting. The last couple of days of the week saw a small selloff but and the Nifty closed with a loss of 165 points (-0.83%).

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