Sensex snaps three-week losing streak, up 334 pts
Feb 22 2014 , Mumbai
Buoyant global cues after the US manufacturing activity, which hit its highest in nearly four years, also boosted investor sentiment in the domestic market. Positive comments by IMF about India's growth outlook also aided buying.
Fresh capital inflows into equity market also aided the firm trend as investors infused Rs 2,046.61 crore during the week, including the provisional figure of February 21, as per data issued by Sebi.
The Sensex resumed at 20,438.87 and shot up further to a high of 20,750.52 before settling the week at 20,700.75, showing a gain of 333.93 points or 1.64 per cent from its last weekend's level.
The NSE 50-share Nifty also rose by 107.10 points or 1.77 per cent to end at 6,155.45.
FM said the fiscal deficit for the ongoing financial year will be contained at 4.6 per cent, current account gap will be capped at $ 45 billion and net borrowing for 2014-15 would be lower than FY'14 revised estimates.
On GDP growth, he further commented that the economy is more stable than what it was two years ago following several steps taken by the government and that the growth will be higher in the second half of the fiscal.