Sensex completes 5-week winning streak, up by 455 pts | india | Hindustan Times
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Sensex completes 5-week winning streak, up by 455 pts

india Updated: Apr 11, 2009 15:49 IST

PTI
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A host of positive factors helped the benchmark Sensex to complete one of the best winning rally in the five weeks since October 2007 and ended higher by another 455.03 points at a near 27-week high of 10,803.86 points during the shortened week.

The market was closed on April 7 and April 10 for Mahavir Jayanti and Good Friday, respectively. In a stalwart five-week of advancing string, the Sensex recorded a gain of 2,478.04 points or 29.76 per cent, the biggest gains in five week since between August 20 and October 12, 2007 when it had risen by 4,276.52 points.

Frenzied buying by foreign funds on expectations of an early recovery in the US economy, optimism about fresh monetary measures by the Reserve Bank to revive economic growth after inflation remained near-zero and also signs of improvement in the Indian economy, mainly helped the bulls to tighten their grip.

The Bombay Stock Exchange 30-share bellwether index gyrated in a range of 10,932.12 and 10,171.91 before ending the week at 10,803.86, a sharp rise of 4.40 per cent over its last weekend's close.

Similarly, the 50-issue Nifty of the National Stock Exchange also spurted by 131.00 points or 4.08 per cent to finish the week at 3,342.05 from its last weekend's close.