Weekly Review: Sensex Dips 2.29% from Previous Week
Weekly Review: Sensex Dips 2.29% from Previous Week – This week, losses occurred in Indian equities were far-flung, reminded first by profit booking and then in a bigger way by a default debt concern on the part of Dubai world. In the last 2 trading days, benchmark indices came down acutely in sync with bourses all across the world.
At its weekly close on Friday, the 30 share sensitive index Sensex closed at 389.84 points i.e. 2.29% less at 16,632.01 points as compared to previous week’s close at 17,021.85 points. In addition, the wider S&P CNX Nifty of the NSE (National Stock Exchange) too fell by 2.19% or 110.7 points as compared to its last weekly close at 4,941.75 points.
Wider market indices too pondered the negative sentiments, with the BSE midcap index ending 2.36% down and the BSE small cap index decreasing 2.1%. In the starting of the week, markets acquire a positive note that Reliance Industries planned a bid to attain a controlling stake in bankrupt Dutch petrochemicals company Lyondell Basell Industries found favor amongst investors.
Although the Reliance scrip gained by closing 3.31% up, the Sensex too moved high by 158.33 points or 0.93% to the end of the day at 17,180.18 points. In the green, Nifty closed at 5,052.45 points, up by a profit of 1.01%. Besides this, Sensex closed at 17,131.08 points, down by 0.29% or 49.1 points, whereas Nifty closed marginally let down at 5,090.55 points, a loss by 13 points or 0.25%.
On Wednesday, both the benchmark indices moved in a narrow range all throughout the day. The Sensex ended at 17,198.95 points, up by 67.87 points or 0.4%, although Nifty closed at 5,108.15 points, raised by 0.35% from its previous close. On Friday, Indian stock markets joined with the Sensex 644.49 points or 3.82% at one point. However, it has made a substantial recovery to close with a loss of 1.32% or 222.92 points to close shop at 16,632.01 points. Slipping by 63.8 points or 1.27%, Nifty closed at 4,941.75 points.
The biggest gainers in Sensex were Bharti Airtel up by 1.1%, Ranbaxy Labs up by 3.4%, Reliance Infra up by 0.8%, Cipla up by 0.8% and Reliance capital up by 0.5%. On the other hand, amongst top failures were Infosys down by 2.7%, TCS down by 2.5%, Ambuja Cements down by 2.8%, ITC down by 1.9% and Larsen and Tourbo down by 2.5%.
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