Sensex, Nifty extend gain marking new milestone

Market maintained its surge for eighth straight week, pursuing last weeks record milestone setting spree as the benchmark Sensex gained 538.86 points to end at 36,050.44, while the broader Nifty closed at 11,069.65.

Bulls continued to stay-put as key benchmark set of with new milestones record highs during truncated week, barring a profit-booking on Thursday's session due to F&O derivative expiry for January series. The market sidelined high crude prices and negatives as investor optimism came to the fore amid strong liquidity and optimism triggered International Monetary Fund (IMF) once again projecting India set to retain the world fastest growing economy.

Also the market rallied on supported by robust FII inflows, better than expected corporate earnings and good uplift upcoming budget scheduled on February 1st, as Sensex and Nifty registered record highs while capturing key milestones of 36,000-level and 11,000-level during the week.

The Sensex started the week higher at 35,613.97 and hovered between new milestone record high of 36,268.19 and 35,544.68 before closing at 36,050.44, showing a gain 538.86, or 1.52%. The Nifty also resumed the week up at 10,883.20 and marked milestone of 11,110.10 and 10,881.40 before ending the week at 11,069.65, showing a gain of 174.95 points, or 1.61%.