Markets on a roll; Sensex completes 7-week rally | business | Hindustan Times
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Markets on a roll; Sensex completes 7-week rally

business Updated: Mar 27, 2010 14:17 IST

Markets extended their rally for the seventh week in a row on the Dalal Street, gaining another 67 points, or 0.38 per cent, on sharp rise in healthcare and banking sectors on the back of sustained capital inflow from foreign funds.

Persistent capital inflows and easing of food inflation helped the Sensex to continue its upward march.

The Bombay Stock Exchange 30-share barometer moved in a range of 17,682.94 and 17,337.38 before concluding the week at 17,644.76, a rise of 66.53 points, or 0.38 per cent, over preceding weekend's close.

In the last seven weeks, the bellwether Sensex had registered a gain of a whopping 1,729.11 points, or 10.86 per cent, showing a bullish undertone.

Foreign institutional investors (FIIs) once again played a crucial role in the the current rally, buying stocks worth net Rs 12,716.71 crore in the current month so far.

Pharma stocks rose on hopes of a surge in US exports after the American Congress passed the heavily-contested healthcare bill on March 21.

Brokers attributed erratic movements to rolling over of long as well as short positions following expiry of derivatives contract on March 25. The BSE and NSE remained closed on March 24 on account of 'Ram Navmi'.