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The market edged higher last week, backed by positive global cues. The Sensex crossed the psychologically important 27,000 level. Last week , the Sensex rose 478.83 points or 1.79% to settle at 27,238.06. The Nifty rose 156.55 points or 1.90% to settle at 8,400.35. The BSE Mid-Cap index gained 317.31 points or 2.58% to settle at 12,639.03. The BSE Small-Cap index 249.52 points or 2.01% to settle at 12,689.85. India's industrial production surged at 13-months high pace of 5.7% in November 2016 over November 2015, snapping 1.8% fall recorded in October 2016. The manufacturing sector's production jumped 5.5%, while mining output rebounded 3.9% after three months of decline, contributing to the increase in industrial production. The data was released by the government on Thursday, 12 January 2017. The all-India monthly inflation based on the consumer price index (CPI) dipped to 25-months low of 3.41% in December 2016, compared with 3.63% in November 2016.

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Key benchmark indices dropped last week weighed by weak global cues and geopolitical concerns. The barometer index, the S&P BSE Sensex, dropped below the psychologically important 28,000 level during the week. The Indian Army conducted surgical strikes on terror launch pads on 28 September 2016 night across the Line of Control (LoC) in Pakistan, killing several terrorists and causing significant casualties to their hideouts. The operations were focused to ensure that these terrorists do not succeed in endangering lives of citizens in India.Last week, the Sensex fell 802.26 points or 2.79% to settle at 27,865.96. The Nifty fell 220.40 points or 2.49% to settle at 8,611.15. The BSE Mid-Cap index lost 165.29 points or 1.23% to settle at 13,166.68. The BSE Small-Cap index fell 178.10 points or 1.37% to settle at 12,780.80.

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