By IANS
Mumbai : Indian equities ended higher for the third straight week Friday on the back of major buying by foreign funds and investor interest in some heavyweight stocks.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) ended Friday at 14,570.75 points to log a gain of 232.70 points, or 1.62 percent, over the last week's close at 14,338.45 points.
The 30-share barometer index has gained an impressive 698.38 points, or 5.03 percent, over the past month, leading market analysts to predict some profit taking in the ensuing sessions.
"The Sensex has gained more than 150 points in the last two sessions alone and is hovering close to all-time highs. So some amount of correction in the next few sessions cannot be ruled out," said an analyst with a brokerage here.
"The fact that this key index has gained more than 5 percent in the past month will also keep further large-scale spurts at check. But opportunities do exist in some individual stocks which investors will keep an eye for," he added.
The Sensex started Monday on a positive note and gained 59.44 points, or 0.41 percent, at 14,397.89 points, and repeated the feat Tuesday with a spurt of 110.32 points, or 0.77 percent.
But Wednesday saw the leading index take a fall of 96.83 points, or 0.67 percent, at 14,411.38 points, only to bounce back the next day with a smart gain of 133.08 points, or 0.92 percent, at 14,544.46 points.
Friday saw the index consolidate the gains, rising marginally by 26.29 points, or 0.18 percent, to end the week with a net gain of 1.62 percent.
But not all sector specific indices performed well during the week under review, with metal index down 4.63 percent, fast-moving consumer goods index taking a drop of 1.13 percent, and IT index down 1.03 percent.
The auto index on the other hand was up 3.5 percent, oil and gas index gained 1.23 percent and that for state-run enterprises was up 0.59 percent, data available with the exchange showed.
According to the markets watchdog, foreign funds bought net equity worth $219.9 million during the week.