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Friday, 27 May 2016

Sensex soars 287 pts, brings up best weekly show in 3 months

Mumbai, May 27 (PTI) Market kept its strong run going for the fourth straight session as the Sensex ended about 287 points higher after investors created fresh long positions in the new June derivative series amid earnings traction and continued foreign inflows.

The NSE Nifty in the process reclaimed the 8,100 level.

A higher opening in Europe and a firm trend in Asia acted as a catalyst.

For the week, the Sensex climbed 1,351.70 points, or 5.34 per cent, while NSE Nifty surged 406.95 points, or 5.25 per cent. For both the indices, the jump is their biggest weekly gain since March 4.

The June series derivative contracts was off to a better start, which added to the confidence level. Refinery, healthcare and realty stocks hogged the limelight.

The Sensex opened strong and closed at 26,653.60, a gain of 286.92 points, or 1.09 per cent. The barometer ended last above this level at 26,656.83 on October 30 last year.

The index had gained 1,136.32 points in the previous three sessions.

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