Market ends 2010 with a bang; Sensex, Nifty post hefty gains | business | Hindustan Times
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Market ends 2010 with a bang; Sensex, Nifty post hefty gains

business Updated: Jan 01, 2011 14:47 IST

The domestic bourses ended the last week of the year 2010 on a buoyant note with both the key indices, the Sensex and Nifty, ending higher by over 2 per cent, extending gains for the third straight third week on robust economic growth and record capital inflows.

The Bombay Stock Exchange 30-share barometer remained dull on first two days of the week to touch a low of 19,981.76 but bounced back with a vengeance to settle the week at 20,509.09, a rise of 435.43 points, or 2.17 per cent.

In the straight three weeks of winning rally, it has earned a total 1,000.20 points, or 5.13 per cent, and on yearly basis it risen by 3,044.28 points, or 17.43 per cent.

Similarly, the NSE's 50-issue Nifty spurted by 122.90 points, or 2.04 per cent, to finish the week at 6,134.50. It has gained by a total 277.15 points, or 4.73 per cent, in straight three trading sessions and surged by 933.45 points, or 17.95 per cent, in 2010.

Barring power and refinery sectors, which finished in the red, all other sectoral indices closed with gains between 1.44 per cent and 4.12 per cent, with interest rate-related stocks from consumer durable, realty, banking and auto segments leading the pack.

Market experts said the key driving forces behind the recovery, after recent sell-off due to scams, was robust Foreign Institutional Investors (FIIs) inflows which invested Rs 3,904.73 crore in the week, including provisional figure of December 31. FIIs infused a record over Rs 1.33-lakh crore, or USD 29.36 billion, in the year just ended.