Markets end week in green

The broader 50-issue Nifty of the National Stock Exchange also firmed up by 43.70 points or 0.84 per cent to settle at 5,244.75 from its last weekend’s close.

Key benchmark indices touched a 22-month high as investors bet on strong third-quarter results coupled with Prime Minister Manmohan Singh’s comments that India will return to 9-10 per cent economic growth in a couple of years at the Pravasi Bharatiya Divas celebrations yesterday.

He also said India’s economy had fared well despite an unprecedented global financial crisis and recorded seven per cent growth last fiscal.

Stocks kicked off 2010 on an upbeat note on Monday with the key benchmark indices hitting multi-month highs on the back of strong auto sales,jump in manufacturing activity in December 2009 and a surge in exports in November 2009.

Realty,small-cap,mid-cap and metal sectors rose on hopes of healthy economic growth.

IT shares came under selling pressure due to a firm rupee as most software companies collect a major part of their revenues in dollars from overseas.