The benchmark BSE Sensex settled at a four-week high while NSE Nifty surged to near 8,400 levels this week on hopes of much-awaited sectoral reforms and encouraging manufacturing output data for December.

Only two-days of the week witnessed a tepid trading hindered by weak-sentiment over political uncertainty in Greece as well as liquidity drench following lack of major foreign funds inflow due to New Year holidays in most of the global market.

However, investors sentiments underpinned by optimism over the government growth oriented economic reforms, which was safeguarded by cabinet approval of taking ordinance route to acquire land in key sectors.

The two-day meet of banking industry to revitalise the financial sectors also provided support on the last day of week.

Also, a significant improvement in HSBC Manufacturing Purchasing Managers’ Index (PMI) for December also provided a major push to stocks on the last trading day of the week.

FPIs turn-around from sellers to buyers further boosted the sentiment. They injected USD 101.91 million on the first four days of the week, as per Sebi data.

Shares from all sectors saw hectic buying, with capital goods, consumer durables, metals, power, banks, realty, auto, fmcg sectors leading the pack that was well supported by shares from mid-cap and small-cap companies which outperformed the Sensex.

The BSE 30-share barometer resumed the week higher and gradually moved up further to a high of 27,937.47 before settling at four-week high of 27,887.90, showing a gain of 646.12 points or 2.37 per cent.

Similary the wide-based 50-issue CNX Nifty of the NSE traded between 8,410.60 and 8,214.70 before ending the week at 8,395.45, a net gain of 194.75 points or 2.37 pct.

Pramit Brahmbhatt, Veracity Group CEO said, “Local equities added over two per cent during the week with the help of some blue chips as recovery in the economy of United States cheered the global market and assisted local indices to post weekly gain. During the week FIIs also boosted the indices by being the net buyers of shares. Indices ended the week on a strong note.”

27 scrips out of the 30-share Sensex pack ended higher while only three finished with losses.

Major gainers were BHEL (9.39 pct), SSLT (7.09 pct), Tata Motors (5.49 pct), Hindalco (5.19 pct), HDFC (5.18 pct), Axis Bank (3.87 pct), NTPC (3.70 pct), Icici bank (3.30 pct), Infosys (3.24 pct), Tata Steel (3.18 pct), Larsen (3.00 pct), Bharti Airtel (2.93 pct), Dr Reddy’s Lab (2.80 pct), Tata Power (2.65 pct)and SBI (2.47 pct).

Buying was so strong that all 12 BSE S&P sectoral indices closed in the green on good buying by retail investors. CG flared up by 4.28 pct, CD 4.27 pct, Power 4.09 pct, Metal 3.82 pct, Teck 2.87 pct, Bankex 2.71 pct, IT 2.67 pct, Realty 2.47 pct, HC 2.16 pct and Auto 2.07 pct.

The BSE Midcap and the BSE Small-cap indices also jumped by 4.10 pct and 3.79 pct and did better than the Sensex.

The total turnover at BSE and NSE rose to Rs 11,892.08 crs and Rs 56,194.52 crs respectively from the last weekend’s level of Rs 9,516.37 crs and Rs 55,320.37 crore.