 "Winning streak intact at D-Street; Sensex gains 3% for the week")
On Friday, the S&P BSE Sensex gained 145 points to close at 27,145; on the National Stock Exchange, the benchmark Nifty50 advanced 41 points to end at 8,328, after topping 8,350 in intra-day trade.
Among the broader markets, both the BSE Midcap and Smallcap indices, up 1.2 per cent and 0.7 per cent each, performed better than the front-liners.
For the week ended Friday, the Nifty50 climbed 2.5 per cent; at the BSE, the Sensex rose 2.8 per cent, their biggest weekly gain since the one ending on May 27, brushing off Brexit concerns completely.
Gaurang Shah, vice-president, Geojit BNP Paribas said, "The market continues to traverse an uptrend with the Nifty touching 8350 spot levels. Some profit booking was seen at higher levels on last trading day of week and first trading day of July after the F&O contracts expiry."
Further he said, "From next week, the market is likely to witness some consolidation as it moves towards 8400-8450 levels and reaches 8500 levels."
Consolidating the macroeconomic story, the manufacturing activity for the month of June climbed up to a three month high led by a stronger demand. According to the Nikkei/Markit Manufacturing Purchasing Managers' Index (PMI), the manufacturing activity was clocked in at 51.7 for June against 50.7 in May.
The weather department on Thursday said that the southwest monsoon is expected to pick pace in July and August thus reinforcing investors' confidence.
Globally, Asian markets finished higher on Friday as hints of an accommodative monetary policy by central banks post Brexit shock have calmed investors' nerves around the world. Japan's Nikkei and Hong Kong's HangSeng finished higher between 0.7-1.7 per cent. The major European indices have also risen and are trading in the positive territory.
In the currency market, euro and pound came under fresh pressure as investors turned towards safer havens such as yen.
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On Friday, crude oil, however, eased as concerns over supply glut resurfaced with OPEC reaching a record high production in June. Brent crude futures were down 30 cents at $49.41 a barrel at 5 pm IST.
Among the sectors, BSE Capital Goods index surged over 2% on upbeat manufacturing data. BHEL, L&T, Havells, Solar Industries India all gained between 2-3.5 per cent each.
Nifty Pharma index set to register its biggest weekly gain in past six months after US drug regulator successfully inspected manufacturing facilities of three pharma companies. Dr. Reddy's, Cipla, Lupin gained between 1-3 per cent each.
Meanwhile, the Foreign Institutional Investors (FIIs) were the net sellers to the tune of Rs 187.5 crore on Friday as per stock exchange data.