Wkly Mkt Review: Sensex gains 510pts

The main index of the Bombay Stock Exchange, the Sensex, gained 2.71% (510 points) during the week ended November 30.

Investors acted on positive factors including strong global cues and clearance of the Rs 16,000 crore rights issue of State Bank of India (SBI).

Expectations of another rate cut, largely prompted by comments from the US Federal Reserve officials indicating such a move at its meeting on December 11, also had a positive impact on market sentiment.

The Sensex moved in the range of 19,424.99 and 18,884.20 points before closing the week at 19,363.19 - a net rise of 510.32 points over the previous weekend close of 18,852.87.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) gained 154.15 points (2.75%) to close the week at 5,762.75 as against the last weekend close of 5,608.60.