Sensex rises by 275.67 pts to 35,178.88
Business

Weekly market review: Sensex up by 1662. 34 pts

Mumbai, Nov 3: The equity market posted a massive gain during the end of the week, as the BSE Sensex rallied by 1662.34 points to touch 35K level to 35,011.65, a three-week-high on strong global cues on optimism that US-China trade tensions could ease in the near term.

The Nifty 50 index gained 523 points or 5.21 per cent to settle at 10,553, its highest closing level since 16 October 2018.

The BSE sensex closed above the 35K level at 35,011.65, mirroring strong global cues over ease in trade tensions between China and US coupled with the firmness in rupee.The BSE Mid-Cap index rose 1,018.58 points or 7.34 per cent to settle at 14,888.73. The BSE Small-Cap index rose 867.04 points or 6.37 per cent to settle at 14,464.68.

Though the market remained volatile during the week, it spurted towards the end of the week, on Friday.Domestic stocks logged sharp gains on Monday as BSE Sensex rallied by 718.09 points or 2.15 per cent to settle at 34,067.40 on strong buying demand in index pivotals.

On Tuesday, the BSE Sensex slipped by 176.27 points at 33,891.13.The Nifty 50 index fell 52.45 points at 10,198.40 on profit booking by local operators at higher level.

Very next day, the sensex scored strong gains as it edged up by 550.92 points or 1.63 per cent to settle at 34,442.05 led by index heavyweights HDFC and Infosys. Positive global cues boosted sentiment.

Indices settled with minor losses on Thursday, after seeing wild swings either ways. The BSE Sensex, fell by 10.08 points at 34,431.97. The market climbed on Friday in line with global stocks as crude prices fell and the rupee extended gains to touch a one-month high.

Global shares rose on hopes of a trade agreement between China and the United States. The Sensex advanced by 579.68 points or 1.68 per cent to settle at 35,011.65. The Nifty 50 index rose 172.55 points or 1.66 per cent at 10,553. UNI