Mumbai: Markets ended in green for the second consecutive week as the Sensex and Nifty firmed up by another 72 points and 25 points on sustained foreign capital inflows coupled with higher overseas advices.
The ongoing bull run has come mostly on hopes of a likely rate cut by the Reserve Bank of India after the government retained its deficit target for the next fiscal at 3.5 percent of GDP in Budget 2016-17, a broker said.
Shares of Auto, Realty, Healthcare, Refinery and Metal sectors strengthened on persistent buying, while shares of IT, Banking and Tech fell on selling pressure.
The Sensex resumed higher at 24,655.19 and firmed up further to 5-week high at 24,820.76 on initial buying but declined afterwards to 24,451.60 on selling pressure before ending the week at 24,717.99, showing a gain of 71.51 points or 0.29 percent.
It gained 1,563.69 or 6.75 percent in two weeks.
The 50-share Nifty also rose by 24.85 points or 0.33 percent to cross 7,500-mark after five weeks to end at 7,510.20. It has also gained by 480.45 points or 6.83 percent.
European markets ended higher after central bank unveiled fresh stimulus measures. "The stimulus package provided by the ECB is much better than expected and this will ease the risk of deflation in Europe. Domestic equities are well placed among EMs with the return of FIIs (Foreign Institutional Investor)," Geojit BNP Paribas Head-Fundamental Research Vinod Nair said.
Realty sector firmed up as Rajya Sabha passed the real estate Bill aimed at providing the much-needed relief to home buyers.
Foreign portfolio investors (FPIs) bought shares net Rs
3,227.81 crore during the week as per the SEBI's record, including the provisional figure of March 11.
Stock markets were closed on March 7 (Monday) for "Mahashivratri" holiday.
The BSE mid-cap index gained by 45.86 points or 0.45 percent to settle at 10,270.70. While, the BSE small-cap index fell 7.76 points or 0.08 percent to settle at 10,277.99.
Among the S&P, BSE sector and industry indices, Auto rose by 1.55 percent, followed by Realty 1.06 percent, Healthcare 1.06 percent, Oil&gas 0.94 percent, FMCG 0.77 percent and Metal 0.56 percent.
However, IT fell by 1.37 percent, Banking 1.36 percent, Teck 1.03 percent, Power 0.98 percent, Consumer Durable 0.41 and Capital Goods 0.15 percent.
In the 30-share Sensex pack, 19 stocks rose and the remaining 11 declined during the week.
Major gainers were, Lupin gained by 4.35 percent, Asian Paints 3.35 percent, Tata Motors 3.04 percent, HDFC 2.68 percent, Bharti Airtel 2.65 percent, Adaniport 2.20 per cent, Tata Steel 2.12 per cent, Maruti 2.07 percent, ONGC 2.04 percent, ITC 1.61 percent, Sunpharma 1.23 percent and Bajaj Auto 1.18 percent.
SBI, on the other hand, fell by 4.27 percent, followed by BHEL 3.36 percent, ICICI Bank 3.04 percent, Infosys 2.40 percent, Coal India 1.89 percent and Dr Reddy 0.98 percent.
The total turnover at BSE and NSE fell to Rs 12,518.02 crore and Rs 68,942.97 crore, respectively, as against the last weekend's level of Rs 18,854.23 crore and Rs 1,01,906.30 crore.