Sensex rose 0.8 per cent on Friday to record their seventh straight weekly rise, their best run in nearly two years, bolstered by strong foreign fund inflows amid growing concerns the market has run up too fast in a short span of time. The benchmark BSE index is up 18 per cent this year, mainly on buying by overseas portfolio investors who have pumped in $4.4 billion so far this year, after pulling out more than $500 million in 2011. The 30-share BSE index closed up 0.75 per cent, or 135.36 points, at 18,289.35, its best close in more than six months. Nineteen of its components ended in the positive territory. "The global liquidity conditions have improved in the last couple of months and India is benefitting from fewer investment opportunities in the developed markets," said Claugio Bernasconi, a Switzerland-based fund manager for AMC Expert India Fund. "Although a bounceback was expected after the Indian markets became the worst performer last year, I am turning cautious now because this sudden and strong rally is not supported by any improvement in the fundamentals of the country."
Source: Economic Times
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