Weekly Mkt Review: Sensex ends above 20K

The benchmark indices, Sensex and Nifty, closed above the 20,000 and 6,000 levels, respectively, for the first-time ever during the week ended December 14.

The market was strong throughout the week on the back of the smart rally in small-cap and mid-cap shares. The small-cap and mid-cap indices, too, hit new closing peaks on sustained buying.

Frontline stocks, however, were under pressure as foreign institutional investors (FIIs) booked profits in high-priced stocks.

The main index of the Bombay Stock Exchange, the Sensex, ended the week at 20,030.83 - a net gain of 64.83 points (0.32%) over the previous weekend close of 19,966.

The S&P CNX Nifty of the National Stock Exchange hit an all-time high of 6,185.40 before ending the week at 6,047.70 as against the last weekend close of 5,974.30 - a net rise of 73.40 points (1.23%).

The US Federal Reserve's decision to lower interest rates by 25 basis points helped sentiment to some extent even though it had already been factored in, analysts said.

The robust growth in the index of industrial production to 11.8% in October from 4.5% in the year-ago period also boosted sentiment.

Considering the Sensex's slide below the 20K mark on Friday from the Thursday's all-time intra-trade high of 20,498.11 and weakness in the global markets, market players are not ruling out further correction in the coming week.