Sensex has best week in over two years

Backed by positive cues from the European bourses and stepped up buying by foreign funds, a benchmark index for Indian equities yesterday closed 363 points higher, putting up the best weekly performance in two-and-a-half years, and adding around 1,151 points during the week. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,493.98, closed at 16,846.83, 363.38 points or 2.2 per cent up from its previous close at 16,483.45. It had slipped to an intra-day low at 16,428.66 in early trade and started moving up in the afternoon. For the week, the index closed 7.34 per cent or 1,151.4 points higher from the previous weekly close at 15,695.43. The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended higher at 5,050.15, up 2.29 per cent or 113.3 points from its previous close. For the week, the Nifty added 7.22 per cent or 340.1 points. Broader markets too rose, with the BSE 500 index closing 2.13 per cent up. The BSE midcap index rose 1.43 per cent up while the BSE smallcap index moved up 1.08 per cent.