Sensex marks biggest weekly gain in nearly five months

MUMBAI (Reuters) - Indian shares rose for a sixth consecutive session on Friday, extending a recent rebound to mark their biggest weekly gain in almost five months as heavy monsoon rains eased fears the country would experience a drought.

Reliance Industries rose 1.8 percent to surge 12 percent for the week - its best performance since May 2009 - on improving refining margins and optimism about the launch of its 4G phone services.

The Sensex gained 0.74 percent to close at 27,316.17, gaining 3.37 percent for the week. The Nifty rose 0.62 percent to 8,224.95, rising 3.03 percent for the week

Both indexes posted their best weekly performance since the week ended Jan. 23, and snapped a three-week losing streak.

 

(Reporting by Abhishek Vishnoi and Rafael Nam; Editing by Biju Dwarakanath)