The benchmark BSE Sensex rose over 500 points to 17,434.94, while the S&P CNX Nifty rose 175.10 points to 5,157.70 last week. Analysts believe the overall sentiments are likely to be positive in the domestic market, tracking a slight uptrend on the global front.
"The market will continue to be bullish till global cues are positive and all negative news will be discounted," domestic brokerage firm SMC Global's Rajesh Jain said.
The market had on Friday discounted the rise in inflation to a four-year high and the Sensex had settled in the positive territory.
For the week ended May 3, inflation had risen 7.83 per cent, against 7.61 per cent in the previous week. It was the highest since an annual reading of 7.93 per cent on November 6, 2004.
Analysts believe the measures government had taken to control the soaring commodity prices would take time to show effect on the inflation figure and after 2-3 weeks it may gradually cool off.
According to Paras Bodhra, research head, Asika Stock Brokers, the sentiments are unpredictable for the next week.
