Weekly review: Sensex bounces back by 130 points on selective buying

04/11/2012 06:23 AST

The BSE benchmark Sensex bounced back by 130 points to settle the week at 18,755.45 in view of fresh buying in mainly in consumer durable, auto, pharma, IT and metal sectors.

Optimism over the reshuffle of Cabinet coupled with renewed capital inflows from foreign funds boosted the market sentiment.

Worried over high budget deficit derailing growth, Finance Minister P Chidambaram unveiled a five-year road map for fiscal consolidation to promote investments, contain inflation and take India to high growth trajectory.

Auto stocks were in demand on higher sales in the month of October and hopes of more sales in the forthcoming festival season.

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