Experts expect Nifty to hit new highs in coming sessions. Here are key levels to watch

Nifty surged nearly 2% to close near 15,200 levels on Friday (REUTERS) — Nifty surged nearly 2% to close near 15,200 levels on Friday **(REUTERS)**

4 min read . Updated: 23 May 2021, 12:41 PM IST Edited By Surajit Dasgupta

However, equity markets may also witness volatility this week amid derivatives expiry on Thursday, they say

Global cues and covid updates will largely dictate the trend in domestic equity market this week, say analysts. And new highs for Indian markets could be on the cards in coming session. Even though earnings season is largely over and some companies like Grasim Industries, BPCL, Sun Pharmaceutical Industries and Eicher Motors are among the few major companies scheduled to announce their quarterly earnings this week. On Friday, enthused by a declining trend in COVID-19 cases in India, the Sensex rose nearly 1000 points to 50,540.80 and Nifty surged 1.8% to 15,175.30, extending weekly gains to over 3%.

The Indian rupee too closed at a near two-month high surged by 29 paise to hit an eight-week high of 72.83 against the US dollar on Friday, tracking positive domestic equities and upbeat Asian peers against the American currency.