The key domestic stock indices logged gains for the second week in a row in the business week ended yesterday. The Sensex and the Nifty both climbed amid positive global cues. In highly volatile trade, the Sensex closed above 54,850 points while the Nifty closed above the 17,350 level.

During the week, the Sensex rose 558 points or 1.03 percent to finish at 57,885. The Nifty 50 index climbed 86 points or 0.53 percent to close at 16,352.

In the broader market at Bombay Stock Exchange, the Mid-Cap index added marginally by 0.05 percent while the Small-Cap index plunged 2.77 percent. 

US Stocks

The three major US stocks closed sharply higher yesterday amid growing optimism that the Federal Reserve will be able to tighten monetary policy without tipping the economy into recession.

The Dow Jones Industrial Average index rose 1.8 percent, the S&P 500 climbed two and a half percent and the Nasdaq Composite jumped 3.3 percent.