The Sensex opened the week on a bearish note after JP Morgan slashed its profit outlook for the fiscal year ending March 2010 for HDFC Bank, ICICI and Axis Bank by between 10% to 30%.

India’s benchmark index, Sensex, saw volatile movements all through the week. But, value buying by investors in a few blue-chips and banking stocks together with short-covering by operators pull the Sensex in the positive zone helping it to cross the 9,000 mark.

Both Bombay Stock Exchange and National Stock Exchange were closed on Thursday in view of terror attack on Mumbai. The fight between security forces and the terrorists continued to rage in Mumbai late Thursday and Friday at three different sites including the Taj, the Trident-Oberoi and the Nariman House.

The settlement of Futures & Options for November, was postponed as markets remained closed on Thursday.

Both the Sensex and its counterpart, the broad based Nifty ended the week on a high note, pulling up hope for the Monday’s session.

For the week ended November 15, the annual Wholesale Price Index-based inflation eased to 8.84% from the previous week’s 8.90%.

During the September quarter, India’s economy grew better than expected at 7.6% as compared to the corresponding period of the last year.

During the week ended Nov 28, the 30 share index Sensex gained 177.51 points to 9,092.72. In contrast, the broad based NSE Nifty gained 61.65 points to 2,755.10 during the same period.

Mid-cap stocks fell 30.9 points to 2,885.76 in the week, whereas small-cap shares lost 86.15 points to 3,304.61 during the same period.

The major gainers of the week included IT, which gained 4.13%, TECK surged 3.84%, Power climbed 2.71%, HC profited 2.67% and FMCG grew 2.59%.

However, Realty dropped 5.13%, Capital Goods fell 2.58%, PSU lost 0.08% and BSE Consumer Durables declined 0.01% among major losers in the sectoral indices over the week.