Sensex, Nifty hit 5-week high on FII inflows, strong buying

Rallying for the second week in a row, the stock market jumped by about 2 per cent on healthy buying in capital goods, pharma, auto and consumer durable shares on the back of sustained capital inflows.
The benchmark indices -- S&P BSE Sensex and NSE CNX Nifty -- scaled to their five-week highs during the truncated trading session.
The BSE and NSE were closed on February 27 on account of "Mahashivratri".
Hawkish statements given by the US Federal Reserve chief Janet Yellen before the Senate Banking Committee also aided the firm trend.
Smart rise in BHEL, L&T, Dr Reddy's Lab, Sun Pharma, Cipla, Tata Motors, M&M, Bajaj Auto, TCS, Wipro, Infosys, Axis Bank, ICICI Bank, SBI, ITC, ONGC, Hindalco, HDFC and Gail India kept the market in upbeat mood.

The Bombay Stock Exchange 30-share gauge resumed stable and moved in a range of 21,140.51 and 20,637.30 before ending the week sharply higher by 419.37 points, or 2.03 per cent, at 21,120.12 - a level not seen since January 24, 2014.

In the last two weeks, the key index has spurted by 753.30 points, or 3.70 per cent.
The CNX Nifty of the NSE rose by 121.50 points, or 1.97 per cent, to end at a five-week high of 6,276.95.
Foreign Institutional Investors (FIIs) bought shares worth Rs 1,930.92 crore in the just concluded week, including the provisional data of February 28.