Strong start: Sensex sees the best first week of year in a decade

The markets began the first week of the new year on a solid note, hoping that rising cases may not lead to further lockdowns

The benchmark indices ended the first week of trading in CY22 on a high note as a bunch of economic data made investors hopeful about the economy's resilience amid the fresh wave of the Covid pandemic. During the week, the Sensex gained 2.6 per cent, the best first five-session gains since 2012 when it had risen 2.7 per cent.

The Federal Reserve's plans for a faster-than-expected hike in rates and the sudden spike in daily Covid numbers, however, led to volatility and indices pared most of their gains in the latter part of the week. The benchmark Sensex on Friday ended