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The S&P/ASX 200 closed 0.6% higher at 7,523.4, posting its fourth weekly gain in five. The benchmark marked its lowest trading volume so far this year, ahead of a long weekend due to Good Friday and Easter Monday holidays.

The blue-chip index fell 0.2%, with oil majors BP and Shell down 0.3% each on weaker crude prices.

For the week ahead, stock markets could see fresh declines as investors react to disappointing fourth-quarter results by IT heavyweight Infosys, Bhamre said. Index heavyweight HDFC Bank is also set to declare earnings on Saturday, which would drive stock prices.

The IPO consists of a fresh issue of up to Rs 250 crore with a face value of Rs 2 per share and an Offer For Sale of up to 9,000,000 equity shares by existing shareholders.

“Cement as a sector that will clearly benefit from the infrastructure push that we have been long waiting for. JK Cement, Heidelberg Cement, JK Lakshmi among smallcaps or even Ramco Cements are looking very attractive. Among the larger companies, UltraTech is also looking good. In case of fertilisers, UPL, Deepak Fertilisers and even Jubilant Ingrevia are the names we are looking at now.”

The brokerage said the ongoing correction is an opportunity to buy heavyweight stocks of the sector at relatively better entry levels even though margins are likely to remain at risk in the near term.

Bitcoin’s struggles have shined a spotlight on so-called altcoins like Cardano, Avalanche and Solana, which have outperformed it recently.

Elevated crude oil prices put pressure on India’s trade deficit as the country imports more than 80 per cent of its oil requirements.

Titan Company, where Rakesh and Rekha Jhunjhunwala held a 5.1 per cent stake as of December 31, has fallen 3 per cent so far this month.

Traders were waiting for a European Central Bank meeting later in the day, to see if it was as hawkish as others have been.