Nifty clocks 7th straight weekly gain, jumps 3% in 5 days

The Indian market has closed in green for seventh consecutive week making it one of the best market rally in recent times. FIIs have invested close to USD 4.5 billion in 2012 despite any major change in fundamentals. Beaten down stocks of 2011 have now become multi-baggers for investors.

World stocks rose near a six-month peak on Friday and the dollar hit a 3-1/2 month high against the yen. This is because of the hopes building up for a long-awaited Greek bailout deal next week following strong US data encouraging investors to buy riskier assets.

The Sensex ended at 18289.35 up 135.36 points or 0.75% and the Nifty closed at 5568.35 up 46.40 points or 0.84%. About 1387 shares advanced, 1577 shares declined, and 436 shares remain unchanged.

Top gainers on the Nifty: BHEL, Axis Bank, Tata Power, HCL Tech and Mah and Mah surged 3-6%.

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Top losers on the Nifty: Hero Motocorp, Sesa Goa, Maruti Suzuki, Reliance Infra and Hindalco lost 2-4%.