Sensex gains 212 points for the week, Nifty above 10,300

The benchmark Sensex advanced for second straight week in row, gaining 212.67 points to close 33,462.97, while the broader Nifty ended above the key 10,300-level to end at 10,333.25.

The stock market maintained its volatile scenario for the second consecutive week, though it managed to building-up on last week gains to inch closer towards all-time highs. The market started positive note, helped by strong US payroll-data lifting the sentiment, the later two session saw the key indices witnessing heavy sell-off due to rising global oil prices and caution ahead of the release of key macro-numbers of CPI inflation and IIP data in midst of uncertainty on Gujarat elections exit poll-result.

However, indices did a turn-around ahead of exit-poll results, while the string of survey after the market hours showed the ruling BJP sweeping clear victory in Gujarat and Himachal Pradesh. The fag-end session saw the key indices opening gap-up on investor optimism, as sustained buying spree led the bulls finally winning the battle and the bourses posting good gains for the week.

The Sensex started the week higher at 33,317.72 and hovered between 33,621.96 and 32,886.93 before settling the week at 33,462.97, showing a gain of 212.67, or 0.64 per cent. (The Sensex gained 417.36 points or 1.27 per cent in during last week sessions). The Nifty also resumed the week higher at 10,310.50 and traded between 10,373.10 and 10,141.55 to close at 10,333.25, showing a rise of 67.60 points, or 0.66 per cent.

Buying was seen sectors led by Oil&Gas, IT, Auto, Metal, Teck, Banks and HealthCare. While, Realty, Consumer Durables, PSU Bank, FMCG, Power and Capital Goods witnessed profit-booking. The broader indices of midcap and and smallcap company shares underperformed the frontline indices.