The BSE benchmark Sensex continued its upward march for the ninth straight week,gaining another 241 points to end at 17,933.14 after crossing the 18,000-level for the first time after 25 months on sustained foreign fund inflow. Expectations of good fourth quarter corporate results also boosted the bourses in the past few weeks. The 30-share Sensex resumed steady at 17,693.66 and shot up to 18,047.86 before concluding the week at 17,933.14,a net gain of 240.52 points,or 1.36 per cent,from its last weekend's level. The National Stock Exchange (NSE) 50-share Nifty too continued its northward journey adding 71.25 points,or 1.35 per cent,to end at 5,361.75 from last weekend's close. Index heavy-weight Reliance Industries rose by 2.77 per cent on strong Q4 March 2010 results. Capital goods pivotals spurted on renewed buying. Power equipment maker Bharat Heavy Electricals (BHEL) shot up by 5.98 per cent. Foreign institutional investors (FIIs) pumped in more than Rs 24,000 crore in the equity market during the current year mainly after the Budget,according to market regulator SEBI's data. Food inflation rose to 17.70 per cent for the week ended March 27,fuelling expectations that the RBI may further tighten rates in its annual monetary policy on April 20. The market is entering an important period of quarterly earnings,with IT bellwether Infosys kick-starting the reporting season on Tuesday.
