Stocks: Markets ended in the green after initial losses on fag-end buying mainly in IT, Refinery, PSU, Capital Goods and Banking counters as investor sentiment got a boost from government estimate of 5.5 per cent economic growth this year amid strong global cues.
Strong recovery seen in US and European markets as well as in Asian markets was the main reason behind the market sentiment.
The Finance Minister tabling on Friday the 'Mid-year Economic Analysis 2014-15' in Parliament which stated that GDP was expected to rise to 5.5 per cent in the current financial year as against 4.7 per cent in the previous fiscal, also helped the markets, said Hiren Dhakan, Associate Fund Manager, Bonanza Portfolio.
Sensex opened lower at 27,136.28 and fell further to 26,469.42 on initial heavy selling pressure in view of heavy foreign capital inflows and sharp decline in industrial production in October and zero level inflation in November, completing three days of losses.
However, it recovered later on to 27,497.12 before ending the week at 27,371.84, disclosing a gain of 21.16 points or 0.08 per cent.
While, the CNX 50-share Nifty eased by 3.75 points or 0.05 per cent to end at 8,220.35.
Meanwhile, foreign portfolio investors sold shares worth Rs 4,704.85 crore yesterday, including provisional data on December 19.
"Markets saw major movements during the current week. Clearly, signs of slowdown in global economic growth was the major concern that led to sell-off in the early part of the week," said Sanjeev Zarbade, Vice President, Private Client Group Research, Kotak Securities.
