A sharp rally in Reliance Industries (RIL) and State Bank of India (SBI) saw the Bombay Stock Exchange index, the Sensex, gain 106 points during the week ended August 25 to close at 11,572 as against the last weekend close of 11,466.The market faced resistance at higher levels as foreign institutional investors (FIIs), which were heavy buyers in the initial three weeks this month, not only turned bearish in the cash segment but also pulled out fairly large chunk of funds from the futures and options (F&O) segment during the week.Bulls, however, took control of the market in the last two days, indicating positive trends for the next week. Brokers said bulls are expected to tighten their grip on the bourses.While Reliance spurted over 5%, SBI also registered smart gains on the back of reports that the central government has cleared the SBI (Amendment) Bill, which would enable the bank to hit the capital market with a follow-on public offer of equity shares.
