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After falling for about 2 percent for the week ended July 12, Indian markets witnessed a bounce back on July 15 with Sensex registering a rally of more than 160 points while Nifty having a touch-and-go moment with 11,600. The final tally on D-Street – Sensex rose 160 points to 38,896 while Nifty ended 35 points higher at 11,588. The index reclaimed 11,600 in intraday trade but selling pressure at higher levels pulled the index lower. In terms of sectors, the S&P BSE IT index rose 3.5 percent thanks to 7 percent rally in Infosys, followed by the S&P BSE Healthcare index that was up 0.7 percent, and the S&P BSE Auto index that rose 0.29 percent. The broader market underperformed – the S&P BSE Midcap index slipped 0.6 percent while the S&P BSE Smallcap index was down 0.63 percent. WPI inflation data added some tailwind for Indian markets as wholesale price-based inflation declined for the second consecutive month to its 23-month low of 2.02 percent in June. “Liquidity issue in the domestic market and weak economic data in China put pressure on the market. Green shoots from earnings lifted the sentiment of IT sector while the ease in WPI inflation (June) to 2.02 percent cheered market,” Vinod Nair, Head of Research, Geojit Financial Services Ltd said. But, for the week, in the absence of any major triggers in the near term direction of the markets will be charted by earnings. The index is finding it difficult to close