Sensex, Nifty logged modest losses during this week, on weak global cues. Concern over US-China trade worries, along with a higher U.S borrowing costs and global trade tensions reduced market sentiment.
Key benchmark indices fell on Friday, 19 October, dragged by selling in index heavyweight RIL, HDFC and Infosys. The BSE Sensex plunged 463.95 points to settle at 34,315.63. The NSE Nifty50 index shed 149.50 points to settle at 10,303.55.
Reliance Industries Limited (RIL) fell sharply in spite of posting record quarterly profit for Q2FY19.
Shares of housing finance companies were among the top losers this week. They include PNB Housing Finance Ltd, Indiabulls Housing Finance Ltd, LIC Housing Finance Ltd and Repco Home Finance Ltd.
For the week, the Nifty declined 1.4 percent, while Bank Nifty index dropped 1.2%. Sectorally, Pharma index was up by 1.3 percent, while FMCG index gained 2.4 percent.
Indian Rupee: The domestic currency appreciated for the second consecutive week. The local unit rose 0.3%, or 25 paise, to 73.32 per dollar. The RBI’s announcement of a plan to buyback bonds to help the market also supported in elevating investor sentiment.