Market in positive lane for 7th day, IT in the saddle

The consumer durables index added 2.8%, followed by IT, technology and oil and gas

The stock market on Friday signed out with gains for the seventh day on the trot, with information technology (IT) stocks in the driver’s seat. The 30-share BSE Sensex finished at 33,679, a three-week high and the Nifty closed a little short of 10,400. Consumer durables and IT stocks turned out to be big movers.

For the whole of the week, the Sensex jumped 336.44 points, or one per cent, while the Nifty rallied 106.10 points, or 1.03 per cent. According to analysts, part of the bullishness can also be explained by expectations of a rating upgrade from Standard & Poor’s.

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