Market suffered a worst weekly performance for since August 2013. BSE Small & Mid-cap fell in the session.
The Sensex & Nifty fell for a fourth straight session on Friday, showing their weekly losses to about 2.5%. The market suffered a worst weekly performance for since August 2013. BSE Small & Mid-cap indices fell 1.16% and 0.95%, respectively, in the session.
The benchmark index of BSE slumped on week ended Friday by 316 points to settle below 33,000 to 32,832.94 following the concerns about India’s fiscal deficit and global risk factors like rising crude prices etc. The Nifty of NSE too dropped by 104.75 points to 10,121.80. The India volatility Index shot up 10% to 14.8 from the last week’s close of 13, showing more turbulence in the week ahead.
The Sensex, after rising a high of 33300.81 in early trade, glided into the negative terrain to touch 32,797.78, before settling at 32832.94, down 316.41 points. The NSE Nifty also cracked the 10,200-level and hit a low of 10108.55 before settling 104.75 points, or 1.02%, down at 10,121.80.
The session witnessed buying in select auto stocks like Maruti Suzuki, Ashok Leyland, TVS Motor and kept up by flouring sales data for November. Among the Sensex pack, Adani Ports lost the most by falling 3%, followed by Bajaj Auto at 2.99% while Kotak Mahindra bank rose 0.23%, followed by NTPC at 0.14%.