Indian stock market, May 4 -- Markets extended their upward momentum for the third straight week, posting gains of over one percent, supported by ongoing foreign fund inflows and strong corporate earnings.

Following an early rally, the benchmarks moved within a tight range for most of the week but still closed on a positive note. In the end, the Nifty settled at 24,346.70, while the Sensex finished at 80,501.99.

"After outperforming the benchmarks in the previous week, the broader markets ran out of steam and closed mixed for the week, with BSE Midcap gaining 0.4% WoW, while Smallcap index declined 1.3% WoW," said Weekly Wrap report by SBI Securities.

Markets closed higher, supported by positive India's IIP data, as industrial producti...