A spate of positive factors saw the Sensex end the week ended May 18 at a 13-week high of 14,303.41, up a whopping 3.68%, and the Nifty registered its first-ever weekly close above the 4,200-mark.
Good corporate earnings, strong global cues, reports of early onset of monsoon, and the discovery of new gas reserve by Reliance boosted market sentiment, dealers said.
Banking stocks led the rally as SBI announced excellent growth of over 75% in net profit for the fourth quarter, and the Lok Sabha passed the State Bank of India (Subsidiary Bank Laws) Amendment Bill, 2006.
The Sensex moved between a high of 14,352.98 and low of 13,885.46 before ending the week at 14,303.41 - a steep rise of 507.25 points - over the last weekend close of 13,796.16.
The Nifty spurted 137.85 points (3.38%) to end the week at 4,214.50 from the preceding weekend close of 4,076.65.
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