Mumbai: Notwithstanding profit booking, the BSE benchmark Sensex ended higher for the second week in a row and hit a 14-month high of 18,762 on buying towards the end on the back of global rally triggered by Spain announcing a crisis budget for 2013.

The Spanish government's budget proposals on late Thursday and hopes of more support from People's Bank of China to boost the world's second-largest economy mainly supported the market on Friday, when Indian bourses posted smart gains.

Continued buying by foreign funds also helped the 30-share Sensex to land the week in positive terrain.

Firm global trend and a rising rupee, which this week hit a five-month high against the dollar, helped the market start new settlement in the derivatives segment on a promising note.

Cut in India's GDP growth forecast by international rating agency S&P to 5.5 percent this fiscal from 6.5 percent projected earlier, due to volatile global economic situation weighed on the market sentiment.

Shares of consumer durable, FMCG, realty, power and healthcare sectors firmed up sharply on good buying enquiries while refinery, metal and IT sectors declined on profit booking from operators.

Small and mid-cap shares also moved up on good demand from retail investors as their indices rose by 3.06 percent and 2.72 percent respectively, outperforming the Sensex.

The BSE benchmark resumed slightly higher at 18,756.31 and shot up further to 18,869.94, but declined afterwards to 18,552.68 before ending at 14-month high at 18,762.74, showing a modest gain of 9.91 points, or 0.05 percent. The index had settled at 18,871.29 on July 25, 2011.

(Agencies)

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