Mumbai, Oct 14 (PTI) Stocks: Market saw upswing for asecond week in row, gaining 618.47 points to reclaim thepsychological 32K-level to finish 32,432.69, while the broaderNifty registered fresh record close at 10,167.45.
Bulls are in total command, despite the key indiceswitnessing shallow trade during first three sessions of theweek, the market players took to its stride the IMF's loweredgrowth projection as well as increased prospects of interestrate hike by US federal reserve this year.
Nervousness was also seen due to start of quarterlyearnings results in key heavyweights and government release ofkey inflation (CPI) and Industrial Production (IIP) numbers.
However, the market witnessed early Diwali fireworkson better than expected macro-economic data cheered investors, Country's Industrial production rebounded sharply to anine-month high to 4.3 per cent for August as against 1.2 percent in July and steadying consumer Price inflation at 3.28per cent for September unchanged from August augured well forthe D-street pushing behind the fears of soft corporatenumbers.
Stock specifics reports like, telecom major BhartiAirtel agreeing to take of Tata group's consumer mobilebusiness led a Telecom rally, while pharma stocks surged amidpositive regulatory approvals, along with broader marketscontinuing to outperform lifted the market to gain.
After opening at 31,862.20, the Sensex traded in arange of 32,508.59 and 31,769.40 before ending the week at32,432.69, showing a gain of 618.47, or 1.94 per cent (itsbiggest weekly jump not seen since July 14).
The Sensex gained 530.50 pts or 1.70 pct duringprevious week.
The Nifty started the week at 9,988.20 and hoveredbetween fresh lifetime high of 10,191.90 and low of 9,955.80.
The index ended the week at new record closing at 10,167.45,showing a rally of 187.75 points or 1.88 per cent.
(It surpassed its previous record closing of 10,153.10hit on September 18) Across the spectrum buying was seen, led by Teck, IT,IPOs, Banks, Metal, Consumer Durables, FMCG, Realty, Oil&Gas,Auto, HealthCare, Capital Goods, Power and PSUs.
The broader midcap and smallcap company shares also sawsubstantial gains. MORE PTI PAK RDPAK.
This is unedited, unformatted feed from the Press Trust of India wire.