<p>Extending gains for fifth straight week, stock specific actions sparked by a smart rally in banking and capital goods sector lifted both benchmark indices, Sensex and Nifty, by over one per cent to conclude the week at new record highs.<br /><br /></p>.<p>The week started on a record-breaking mode on the back of positive cues such as the declining trade deficit data for October.<br /><br />Recent macroeconomic data has reaffirmed investors' view that the Indian economy is on track for a smart recovery at a time when Japan has slipped into recession, say traders.<br /><br />Continued fall in the global crude oil prices augurs well for price rise in India, which imports over 70 per cent of its oil requirements.<br /><br />It, however, immediately fell back in the next two days as lack of cues from domestic and global front kept the participants on the sidelines and triggered profit-taking in selective pivots.<br /><br />Fall in the rupee value to 62-level against the US dollar also weighed on the market sentiment.<br /><br />Later, it recovered in the last two sessions of the week on hopes of big-bang reforms in upcoming Winter Session of Parliament.<br /><br />Positive global cues after US shares provided another record-breaking lead on the back of encouraging economic data also boosted the market outlook.<br /><br />The benchmark S&P BSE Sensex resumed lower at 28,018.68 but dipped to a low of 27,915.23 before recovering to log its lifetime high of 28,360.66.<br /><br />It also registered a new closing peak of 28,334.63, showing a gain of 287.97 points, or 1.03 per cent.</p>
<p>Extending gains for fifth straight week, stock specific actions sparked by a smart rally in banking and capital goods sector lifted both benchmark indices, Sensex and Nifty, by over one per cent to conclude the week at new record highs.<br /><br /></p>.<p>The week started on a record-breaking mode on the back of positive cues such as the declining trade deficit data for October.<br /><br />Recent macroeconomic data has reaffirmed investors' view that the Indian economy is on track for a smart recovery at a time when Japan has slipped into recession, say traders.<br /><br />Continued fall in the global crude oil prices augurs well for price rise in India, which imports over 70 per cent of its oil requirements.<br /><br />It, however, immediately fell back in the next two days as lack of cues from domestic and global front kept the participants on the sidelines and triggered profit-taking in selective pivots.<br /><br />Fall in the rupee value to 62-level against the US dollar also weighed on the market sentiment.<br /><br />Later, it recovered in the last two sessions of the week on hopes of big-bang reforms in upcoming Winter Session of Parliament.<br /><br />Positive global cues after US shares provided another record-breaking lead on the back of encouraging economic data also boosted the market outlook.<br /><br />The benchmark S&P BSE Sensex resumed lower at 28,018.68 but dipped to a low of 27,915.23 before recovering to log its lifetime high of 28,360.66.<br /><br />It also registered a new closing peak of 28,334.63, showing a gain of 287.97 points, or 1.03 per cent.</p>