Sensex caps best week in 14 months, rises 178 points; Nifty ends at 11,666

The surge in FII flows is seen as the key reason behind the market's seventh straight weekly gain

The benchmark Sensex on Friday capped its best weekly rising streak in 14 months, with investor focus shifting towards the upcoming elections, and with the earnings season set to begin next week. 

The index advanced 0.5 per cent, or 178 points, to 38,862, completing its seventh consecutive week of gains. During this phase, it has added over 3,000 points, or 8.5 per cent. The Nifty50 rose 0.6 per cent, or 68 points, to 11,666. 

The Sensex had retreated for the past two sessions after closing at a record high on Tuesday. Foreign institutional investors (FIIs) turned net-buyers after two back-to-back