Erasing last week’s losses, domestic markets jumped 2 percent to hit a fresh record high in a volatile week, driven by positive global and domestic data. The Indian market rose on global rate-cut optimism, which provided an impetus worldwide. The European Central Bank lowered its deposit rate by 25 basis points to boost tepid growth. The U.S. Federal Reserve is set to announce its interest rate decision next week.

The Sensex rose 1,707 points, or 2.1 percent, during the week, to close at 82,891. The Nifty added 504 points, or 2 percent, to end at 25,357. Both benchmark indices touched a fresh record high on Thursday. In the broader market, the BSE Mid-cap Index jumped 1.5 percent, and the Small-cap Index surged 2 percent. In the forex market, the rupee appreciated 5 paise to end the week at 83.89 against the dollar.