Mumbai: Extending gains for fifth straight week, stock specific actions sparked by a smart rally in banking and capital goods sector lifted both benchmark indices, Sensex and Nifty, by over one percent to conclude the week at new record highs.
The week started on a record-breaking mode on the back of positive cues such as the declining trade deficit data for October.
Recent macroeconomic data has reaffirmed investors' view that the Indian economy is on track for a smart recovery at a time when Japan has slipped into recession, say traders.
Continued fall in the global crude oil prices augurs well for price rise in India, which imports over 70 percent of its oil requirements.
It, however, immediately fell back in the next two days as lack of cues from domestic and global front kept the participants on the sidelines and triggered profit-taking in selective pivots.
Fall in the rupee value to 62-level against the US dollar also weighed on the market sentiment.
Later, it recovered in the last two sessions of the week on hopes of big-bang reforms in upcoming Winter Session of Parliament.
Positive global cues after US shares provided another record-breaking lead on the back of encouraging economic data also boosted the market outlook.
The benchmark S&P BSE Sensex resumed lower at 28,018.68 but dipped to a low of 27,915.23 before recovering to log its lifetime high of 28,360.66.
It also registered a new closing peak of 28,334.63, showing a gain of 287.97 points, or 1.03 percent.
The Sensex has gained 2,226.10 points, or 8.53 percent, in straight five weeks.
The CNX 50-share Nifty of the NSE also spurted by 87.45 points, or 1.04 percent, to finish at record level of 8,477.35, and it also hit lifetime intra-day high of 8,489.80 during the week.
The fag end trade saw shares from the banking sector taking centre-stage on mergers and acquisitions news of Kotak Mahindra acquiring ING Vysya Bank.
Sentiments were also lifted by positive global cues following comments from European Central Bank (ECB) President Mario Draghi over aggressive quantitative easing measures along with reassuring US economic data.
Profit-booking was witnessed in realty, metal and consumer durable sectors.
Foreign portfolio investors (FPIs) continued their buying spree during the week, investing Rs 710.50 crore as per Sebi's record, including the provisional data of November 21.
Out of the 30-share Sensex pack, 19 stocks ended higher while 11 others closed lower.
Major gainers from the Sensex pack were SBI (9.40 percent), Bharti Airtel (3.22 percent), Cipla (3 percent), RIL (2.92 percent), Dr Reddy's Lab (2.74 percent), Larsen (2.74 percent), Coal India (2.74 percent), BHEL (2.66 percent), Hero MotoCorp (2.30 percent), ICICI Bank (2.29 percent), Hindalco (1.75 percent), Wipro (1.65 percent), ITC (1.56 percent), Tata Motors (1.27 percent) and Bajaj Auto (1.10 percent).
However, Sun Pharma fell by 4.98 percent, followed by Tata Steel (3.42 percent), Gail India (2.73 percent) and ONGC (2.48 percent).
Among the S&P BSE sectoral indices, Bankex rose by 2.81 percent, followed by CG (2.20 percent) and Auto (1.42 percent) while Realty fell by 2.65 percent, Metal (2.41 percent) and CD (1.75 percent).
The total turnover at BSE and NSE stood at Rs 17,604.23 crore and Rs 86,603.23 crore, respectively as against the previous weekend's level of Rs 17,787.23 crore and Rs 86,255.44 crore.
