Despite huge volatility and profit-booking during the week, Indian indices managed to end the week with smart gains. Better-than-expected quarterly earnings, inflows from the foreign funds and strong cues from the global markets led the domestic markets. In the last one week, the Sensex of Bombay Stock Exchange added 4.30% while S&P CNX Nifty of National Stock Exchange gained 4.43%. Dealers in the markets say the surge in the last one week were due to the buying from the foreign institutional investors. On Friday, Sensex gained 147.92 points or 0.97% to close at 15,378.96 points, while Nifty closed higher by 44.80 points, or 0.99%, to 4,568.55 points. ?Last week was good enough in terms of inflows coming in the market. On Tuesday and Wednesday we also saw markets closing with losses,? said Mehul Dedhia, associate vice president at Sharekhan.

The first day of the week started huge gains following positive cues from the global markets and news of the rescue of US lender CIT Group. However, on Tuesday and Wednesday benchmark indices closed with losses after profit booking was seen by FIIs as well as domestic institutional investors (DIIs) in the markets.

On Thursday, markets rebounded after the losses and once again ended above the dotted line. ?Next week might be crucial as we have expiry of July derivatives series and markets might remain volatile. However with favorable rains in the past few days and announcement of quarter earnings by several companies, it is likely that equity indices will continue their upward journey,? added Dedhia.

According to the provisional figures furnished by the BSE, sFII were net buyers at Rs 663.02 crores, while DIIs were net sellers at Rs 206.55 crores. Barring Bankex all the sector in the BSE Sectoral indices closed the day on positive terrain, with Auto and Realty being the top performers of the day.

The breadth of the market remained strong as out of 2,764 stocks traded on BSE, 1,782 stocks advanced, 897 stocks declined while 85 remained unchanged. In Sensex 23 stocks closed in green while remaining seven stocks closed the day below the dotted line.

Now market will be eyeing at credit policy by the Reserve Bank of India and cues from the global markets in the coming days.