The week that went by was in stark contrast to the week before that as the markets remained in an extremely narrow range before closing with modest gains. The markets demonstrated a peculiar feature over the past five sessions; on four out of five trading days, the Nifty 50 came off by over 100 points from its peak every day. However, the stark contrast was in the trading range that the markets displayed. In the previous week when the markets reacted to the elections, it swayed a total of 2057 points. This week, the trading range contracted to just 283.75 points. Volatility also continued to dramatically come down; last week it had come off by 31.38%, while this week, India VIX declined by another 24.05% to 12.82. Amid narrow-ranged moves, the headline index finally ended with a net weekly gain of 175.45 points (+0.75%).
