On the back of some positive news across various fronts, the markets ended the day on a strong note today. The US Fed's decision to stay put on rate hikes, talks of Infosys' tie-up with Capgemini and the benign inflation rates in the country, seem to have driven the markets into an upbeat frenzy.

TheSensex was up 145.94 points or 1.01% at 14650.51, and the Nifty up 36.30 points or 0.85% at 4318.3.

On a weekly basis, Sensex was up nearly 1.2% and Nifty was up 1.5%. Even on a weekly basis banking index gave a standout performance.

Capital goods, banking, IT, cement and sugar stocks were among the top gainers. The broader markets did extremely well during the day as well as week giving markets an excellent breadth. The turnover was brisk. Except for metal, all the sectoral indices closed in green.

Analyst Gul Tekchandani thinks that this is a robust time for the markets. “I think market doesn’t necessarily come around to satisfy the whims of individuals and my mind is that if the corporate performances are good, if the overall economic data continues to be robust; yes there can be corrections, volatility is part of life, but to keep thinking about a correction and not do anything, I think an opportunity is being lost.”

He adds, "With capital goods, with cement - I think you saw that the minute the Finance Minister made a statement that logically the government was never trying to do anything in terms of control, as he said they were trying to influence prices, the stocks rallied. So wherever you see deep value and wherever you see there is growth and it comes at a price. I don’t think that we need to think of too many corrections and things like that because any which way you can’t predict them and you’ll get them as often wrong, as you can get them right. So logically that’s not the way to do an investment strategy."

Ashu Madan, National Head of Religare feels that till now, whatever is happening, is happening on the expected lines though it is a mix of short covering and buying also. "The level is such, at 4,300, everybody is skeptical - you cannot think that they are aggressively buying. So that itself signifies that there is a further upside left and suddenly we are witnessing that lot of segments which were down like cement, sugar and couple of other midcaps; that clearly shows that the momentum is widespread and there is whole lot of participation."

He feels that there is a lot of upside still and is not visibly disturbed about any kind of news flow. He adds that till the time the DLF issue is been listed - the first leg, the markets should continue to do well no visible concerns.

But he feels that investors must take it, a few days at a time. "There are so many recommendations doing the rounds and people are aggressively buying also, visible participation is also there. But the first available signs of weakness - you just show me 40-50 points correction in Nifty and you will see that everybody is an offloading mode. So the bought and sold position changes fast in a short span of time so it is difficult to predict the entire month or maybe next fortnight. We have to live it with a short-term phenomena, three-five-ten days."