Sensex gains 495 points this week; Nifty crosses 5,200
The BSE Sensex rose for a sixth straight session on Friday to a 11 week high as foreign investors continued to buy local stocks on indication of a policy shift towards reviving growth, with an increase in global risk appetite also aiding sentiment. Foreign funds have pumped in more than $1.5 billion into beaten-down Indian shares this month, in sharp contrast to net outflows of about $500 million in 2011.
For the week, India's benchmark indices were among the best performers in Asia. The Nifty jumped 156 points or 3% this week while the Sensex added 495 points in the four trading sessions of the week. Analysts attributed a revival in global and domestic sentiments for the over 10 per cent up move in the first three weeks of 2012.