Bulls reigned supreme in the market as the Nifty and Sensex rose 5 percent each week-on-week, amid positive earnings from India Inc, falling crude prices, rupee appreciation versus the dollar and easing trade war concerns between the US and China.
The Sensex rose 5 percent this week, or 1,662 points, to ending at 35,011.65. The Nifty surged 5.2 percent, or 523 points, to close at 10,553.
HDFC (21.77 percent) was the major contributor to the Nifty’s gain followed by HDFC Bank (16.45 percent), Reliance Industries (13.21 percent), Indian Oil Corporation (IOC, 12.62 percent) and Maruti Suzuki (11.70 percent).
On a weekly basis, the rupee gained over a percent against the dollar as it ended Friday (November 2) higher by over a rupee at 72.43. Last Friday, the rupee ended at 73.46 against the dollar.