Stock market indices ended the week on a positive note amid strong global cues, revival of monsoon and expansion of industrial production for the seventh month in a row.
The Sensex crossed the 16,000-mark on Monday, a 15-month high, tracking strong global markets, as China allowed more foreign portfolio investments and amid signs of monsoon revival.
Finance Minister’s statement signaling that the government would not end measures to stimulate the economy also improved the market sentiment.
As the week progressed, the Sensex held on to its gains due to positive news flow.
The Sensex on Friday maintained its momentum for the sixth straight session. It gained 3.67 per cent, or 575.18 points, over the previous week to close at 16,264.30. The Nifty advanced 3.19 per cent, or 149.15 points, this week to close at 4,829.55.