After hitting a lifetime high, profit booking were witnessed in the markets which kept them from going up. The buying from FIIs supported the markets. On a weekly basis, Nifty ended up around 0.25 per cent. During the consolidation phase, Nifty may remain in a range of 7800 to 8250.

What to expect
On the disinvestment front, the government is likely to offload 5 per cent stake in SAIL which may fetch the exchequer over R 1700 crore at current market price. Also, in order to increase the participation by the retail investors, the government is planning more incentives.