Dalal Street stronger this week on sectoral bounces, easing dollar outflows
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India's equity indices ended higher on Friday, posting their best weekly performance since the end of June, aided by a rebound in beaten-down information technology and bank stocks and a decline in foreign institutional selling. The second quarter earnings announcements over the next three weeks will determine whether the recent strength has more legs to it, said analysts. On Friday, the NSE Nifty rose 103.55 points, or 0.4%, to close at 25,285.35. BSE's Sensex ended 328.72 points, or 0.4%, higher at 82,500.82. Both indices gained 1.6% during the week. "Market sentiment has turned bullish as the Nifty moved above the 25,000 mark, triggering renewed buying interest and driving the indices higher," said Aamar Deo Singh, senior vice president of research at Angel One. The Nifty IT index rose 4.9% this week, while the Nifty Bank index gained 1.8%. "The Nifty Bank is now starting to outperform, while the IT index appears...