Mumbai: The S&P BSE benchmark Sensex extended its gains for the third straight week, surging by 74 points to end at 28,152.40 on fag-end buying in view of good rainfall this monsoon so far, coupled with sustained foreign capital inflows despite profit-booking.
However, the NSE 50-share Nifty fell by 11 points to end at 8,672.15 on mild selling pressure. Besides, investor sentiment remained upbeat after the India Meteorological Department (IMD) in its weekly monsoon update said the cumulative rainfall during this monsoon so far has been 3 per cent above the long period average (LPA).
For the week, the Sensex rose by 74.05 points or 0.26 per cent, posting its third straight weekly gain; while the Nifty shed 11 points, or 0.13 per cent to 8,672.15 after hitting 15-month high of 8,728.35. It gained 349.16 points or 1.26 per cent in three weeks.
Investors booked profits after the RBI maintained status quo in its monetary policy review. Reserve Bank Governor Raghuram Rajan left interest rates unchanged in his last monetary policy on inflationary pressures but said the central bank's stance remains 'accommodative'.
The RBI left the short-term lending rate, or repo rate unchanged at 6.50 per cent and the cash reserve ratio static at 4 per cent. The central bank also retained the GDP projection at 7.6 per cent. Passage of long-pending Goods and Services Tax (GST) Constitutional Amendment bill by Parliament also boosted the market sentiment.
