The benchmark index of the Bombay Stock Exchange (BSE) is strongly nearly 3% in this week’s trade, nearly in the positive for the fourth straight week on the back of great buying support from foreign institutional investors.

The 30-scrip sensitive index (Sensex) of BSE closed the week at 17,233.98 points, rose 2.96% or 494.97 points from its previous week’s ended at 16,739.01 points.

The Sensex arise 0.92% or 156.80 points and closed at 17,233.98 points on Friday which is the highest level in almost 10 weeks.

The 30-scrip index has climbed almost 9% since the beginning of the month on the back of great buying support from foreign institutional investors.

These investors pumped over $2 billion since the beginning of the year. FIIs net were $252 million on Friday.

The overseas investors were the net sellers in Indian equities market in last year. The FIIs had off-loaded equities as Rs 3,642 crore ($728 million) in 2011.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also rallied almost 9% this month. The Nifty was ended 0.90% or 46.40 points higher at 5,204.70 points on Friday, the last trading of the week.

The RBI in third quarter policy review slash the cash reserve ratio (CRR), the total against deposits commercial banks must defense as liquid assets such as cash, 50 basis points to 5.5% from 6%.