Equity Markets this Week: Sensex plunges 1.59% and Nifty falls 1.68%

For the second consecutive week, both S&P BSE Sensex and CNX Nifty fell due to persistent selling pressure mainly in power, banking, auto, realty and PSU. Banking stocks suffered loss due to no change in the key interest rate by the Reserve Bank of India last week.

Currently, repo rate at 7.75 per cent, but SLR was reduced by 0.50 per cent to 21.50. There was speculation about a cut in the repo rate by the RBI as macro-economic e indicators were in favour.

The global issues and Delhi elections weigh high on the stock market sentiments this week.

The Sensex lost 465.04 points (1.59 %) to settle below 29,000 level at 28,717.91 points. In two weeks, the Sensex lost 560.93 points (1.92%) .

The 50-unit CNX Nifty shed 147.85 points (1.68%) to end at 8,661.50 points this week. In last two weeks, Nifty lost 174.55 points (1.98%).

The BSE Mid-Cap index fell 247.91 points (2.31%) and Small-Cap plunged 25.92 points (2.22%) this week (Feb 2 to Feb 8).