Mumbai,sep 22:
The stock market logged third weekly fall in a row, with Sensex lossing a massive 1,249.04 points to revisit 36K-level hitting two month lows at 36,841.60, while the broader Nifty plummeted below the key 11,200-level to conclude at 11,143.10, lossing 372.10 points.
Once again the holiday shortened week saw the market witnessing losses to the fore, initially the continued spectrum of rupee volatility, US-China trade war tension and finally financial industry turbulance.The key indices suffered losses all four sessions of the week as investors opted for selling from the day one as selling pressure in most of the sectors, fear of escalation in US, China trade spat, continuing rupee woes which fell to historic 72.99 against the dollar during the week impacted the trading momentum.
Investors nervousness came to fore on final session as market crashed with huge losses in financial shares.
The Sensex saw wild swings of 1 per cent gain and fall of 3 per cent in intra-day move before closing 0.8 per cent loss, on Reports of debt defaults by Infrastructure Leasing & Financial Services Ltd (IL&FS) shooked every financial stocks in the market.The Stock Markets remained closed Thursday, September 20, on account of ‘Muharram’.The BSE Sensex started the week lower 38,027.81 and plunged to a low of 35,993.64 before settling the week at 36,841.60, showing massive loss of 1,249.04 or 3.28 per cent.
(The Sensex lost 554.43 points or 1.43 per cent during previous two week session). The Nifty also resumed lower by 11,464.95 slumped to low 10,866.45, the index settled the week at 11,143.10, a loss of 372.10 points, or 3.23 per cent.
Barring Oil and Gas counters which saw good buying activity, the sell-off was led by Banks, Realty, IPOs, Power, Auto, HealthCare, Consumer Durable, PSUs, Capital Goods, FMCG, Teck, IT and Metal sectors.
The broader midcap and smallcap companies shares also witnessed massive selling. Yes Bank was the top losser from the Sensex pack dropped by 29.73 per cent, it was followed by Tata MotrDvr 8.40 per cent, SBIN 7.01 per cent, Maruti 6.87 per cent, Tata Motors 6.10 per cent, Axis bank 5.79 per cent, IndusInd Bank 5.97 per cent, HDFC 4.81 per cent, Kotak Bank 4.78 per cent, Adaniports 4.75 per cent, Sun Pharma 4.45 per cent, NTPC 4.37 per cent, ONGC 4.16 per cent, Infosys 3.93 per cent, ICICI bank 3.15 per cent, Bajaj Auto 3.04 per cent, HDFC bank 2.97 per cent, Vedl 2.46 per cent, BhartiAirtel 2.93 per cent, ITC 1.04 per cent. While Wipro rose by 2.18 per cent, TCS 1.96 percent and Tata Steel 1.50 per cent.
The total turnover during the week on BSE fell to Rs 14,522.45 crs as against last weekend’s level of Rs 12,749.28 crores and NSE climbed to 1,60,416.94 crores compared to Rs 1,36,353.38 crores previously.
