Mumbai: Stretching gains for the fourth straight week on the back of rise in IT, FMCG, metal and healthcare shares, the BSE benchmark Sensex rallied by another 92 points to end the shortened week at 17,783.21.

The BSE and National Stock Exchange (NSE) were closed on August 20 on the occasion of "Ramzan Id".

Persistent capital inflows into equity markets kept the market sentiment upbeat as they pumped in Rs 959 crore during the week, including the provisional data of August 24.

The 30-share Sensex surged to a five-month high of 17,972.54 on Thursday on a slew of positive developments like Infosys winning a case in the US, heavy rain in some parts of the country and a fall in inflation.

It opened higher at 17,705.14 and hovered in a range of 17,972.54 and 17,705.74 before closing the week at 17,783.21, showing a gain of 92.13 points, or 0.52 percent.

The key index has gained a healthy 944.02 points, or 5.61 percent, in the last four weeks.

The NSE 50-share Nifty also ended higher by 20.40 points, or 0.38 percent, to 5,386.70. It has hardened by 286.85 points, or 5.62 percent, over the same period.

"IT stocks were at the forefront after the country's leading software exporter, Infosys, notched handsome gains as a US Court ruled in favour of the company in an employee harassment case. Also, the stability in the US supported the IT stocks," said Dipen Shah, Head of PCG (Private Client Group) Research, Kotak Securities.

A marginal fall in retail inflation to 9.86 percent in July from 10.02 percent in June also somewhat boosted the sentiment.

(Agencies)

Latest News  from Business News Desk