The Sensex added 1,406.32 points (3.5 percent) to end at 41,141.85 in the past week, the Nifty jumped 436.55 points (3.7 percent) to end at 12,098.4.
After losing more than 4 percent in the Budget week, the Indian markets registered a V-shape recovery in the post Budget rally amid positive global cues, falling oil prices, earnings from India Inc and inline Reserve Bank of India's Monetary Committee Policy.
The market ended on a positive note for the first four days of the week, while with profit booking on February 7 dragged the Nifty below 12,100 level.
"Technically, the short-term trend remains positive and is likely to continue in near term. The 12,000 level should be the strong support for the index. Trading above the same, we can expect uptrend continuation wave up to 12,175 level," said Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities.
The RBI kept the policy repo rate unchanged at 5.15 percent, consequently, the reverse repo rate under the liquidity adjustment facility (LAF) remains unchanged at 4.90 percent and the marginal standing facility (MSF) rate and the Bank Rate at 5.40 percent.
The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth, while ensuring that inflation remains within the target.
Global markets remained positive during the week on the back of encouraging US economic data and waning fears of the financial fallout from a virus out of China.
The Sensex added 1,406.32 points (3.5 percent) to end at 41,141.85 in the past week, the Nifty jumped 436.55 points (3.7 percent) to end at 12,098.4.
Domestic Institutional Investors (DIIs) bought equities worth of Rs 2,276.66 crore, while Foreign institutional investors (FIIs) sold equities worth Rs 983.55 crore.
For the week, the Rupee was down marginally as it ended at 71.40 on February 7 against its January 31 closing of 71.35.
The BSE large-cap index rose 4 percent, BSE small-cap index gained 3.4 percent and the BSE mid-cap index added 5 percent in the past week.
On the BSE, Reliance Industries (RIL) added the most in terms of market value, followed by HDFC Bank and HDFC. On the other hand, Bajaj Finance lost the most in terms of market value.
The Nifty Metal index outperformed the sectoral indices with a gain of over 9 percent during the week.
