The bulls shoved their way up for the second straight week at the Indian equities markets this week, pushing a key index to end trade 4.27 percent higher Friday, with broader markets also recording gains.
The 30-share sensitive index (Sensex) ended 690.55 points or 4.27 percent higher at 16,848.83 points at weekly close Friday, as opposed to the previous week’s close at 16,158.28 points.
The broader S&P CNX Nifty of the National Stock Exchange (NSE), too, moved up 4.22 percent or 202.8 points from its last weekly close to end at 4,998.95 points.
Broader market indices added to their weekly tally as well, with the BSE midcap index ending 2.63 percent up and the BSE smallcap index rising 3.33 percent.
The Sensex continued to rally for the fourth day Monday and shut shop 340.44 points or 2.1 percent higher to close at 16,848.83 points, while the Nifty ended 102.25 points or 2.13 percent up at 4,898.4 points.
The four-day rally, however, snapped Tuesday with the Sensex slipping 0.35 percent or 58.16 points to end at 16,440.56 points. The index had hit an intra-day high of 16,677.53 points in the morning session, but slipped into the red around noon as investors turned cautious and started selling some stocks.
The Nifty, too, closed in the red at 4,881.7 points, down 0.34 percent from its last close.
Wednesday saw the benchmark indices rising once again, as investors bought into metal, IT and telecom stocks. The Sensex ended at 16,849.6 points, 2.49 percent or 409.04 points higher, while the Nifty closed at 5,003.95 points, up 2.5 percent from its last close.
Selling pressure, however, pulled down both the Sensex and Nifty Thursday. The Sensex closed 0.91 percent or 153.57 points lower at 16,696.03 points, while the Nifty ended lower at 4,952.65 points, down 1.03 percent from its last close.
Though the markets were trading volatile Friday, the Sensex closed 0.92 percent or 152.8 points higher at 16,848.83 points, while the Nifty ended 0.93 percent up at 4,998.95 points.
Data with markets watchdog Securities and Exchange Board of India (SEBI) showed that foreign funds were net buyers during the week, having bought scrips worth $621.7 million.
The top gainers in the Sensex were Tata Motors (up 8.8 percent), Reliance Industries (up 8.3 percent), TCS (up 7.7 percent), ICICI Bank (up 7.1 percent) and Infosys (up 6.4 percent).
Among the top losers were Bharti Airtel (down 5.6 percent), DLF (down 3.1 percent), Hindustan Unilever (down 1 percent), Ranbaxy Labs (down 0.5 percent) and Reliance Power (down 0.2 percent).