Mumbai: The truncated week saw the market enduring anxiety of deadly terrorist attack in Brussels, while extending gains for the fourth week in a row,as the benchmark Sensex clinched 384.82 points to finish at 25,337.56 and the broader Nifty reclaiming 7,700-level.
Despite Brussels' attack and long weekend holiday for Holi and Good Friday, buying dominated the sentiments amid rising expectation of RBI rate cut early next month, stoked up by lower retail inflation data and government's decision to slash rates on small savings.
Higher global cues and firm buying by FIIs also felt supportive as US Federal Reserve's decision last week pumped up sustained foreign capital inflows into the domestic equities. Shares were also buoyed up after government's decision on new Defence Procurement Procedure (DPP), which focused on India-made products and fast-track acquisition process.
Sentiments also improved as jewellers called off their strike for roll-back of proposed one per cent excise duty on non-silver jewellery. Buying was witnessed across the spectrum during the week led by Realty, Capital Goods, Auto, Metal, Consumer Durable, Power, Bank, Teck, PSUs, HealthCare, IT, FMCG and Oil&Gas sectors. Broader midcap and smallcap company stocks also saw good buying interest.
The Sensex resumed higher at 25,007.56 and hovered between nearly two Months high of 25,381.33 and low of 24,988.27 before closing the week at 25,337.56, showing a gain of 384.82 points or 1.54 per cent.
It gained by 9.43 per cent in four weeks. The NSE 50-share Nifty also rose by 112.15 points or 1.47 to end at 7,716.50. It also gained 686.75 points or 9.77 per cent during the week.
