Wkly Review: Sensex ends at new high of 14,404

The stock markets maintained a firm trend and scaled new highs last week, driven mainly by positive news flows - Tata Steel acquiring Corus, upward revision of the economic growth rate and the upgrade of the sovereign ratings.

The Bombay Stock Exchange (BSE) index, Sensex, touched a new, intra-day high of 14,462.77, and closed at an all-time closing peak of 14,403.77 on Friday - a net rise of 121.05 points (0.85%) over last weekend's close of 14,282.72.

Similarly, the National Stock Exchange's (NSE) S&P CNX Nifty scaled a new trading peak of 4,198.70 and closed at a life-time high of 4,183.50.

The sentiment also got strengthened by the cabinet approval to transfer the Reserve Bank of India (RBI) stake in State Bank of India (SBI) to the government. This triggered a heavy buying spree in banking stocks, which, in turn, had a positive impact on the market.