BSE Sensex, Nifty tank nearly 3% This Week

Lingering uncertainty pulled down the Indian equity markets this week (Sep 26-31), snapping four-week gaining spree. The markets plunged nearly 3 percent this week. BSE Sensex ended below the psychological mark of 27,000 and NSE Nifty finished below 8,100 points.

The market sentiments were tumbled by factors like US rate hike fears and weak corporate earnings this week. The scrips in FMGC sector came under heavy selling pressure following bearish sentiment, which dominated the trading the entire week.

Despite rate cut in China the domestic markets could not sustain the gain momentum as witnessed in the beginning of the week. Following the bearish sentiment investors were shown no interest in fresh buying in the market.

The BSE Sensex resumed higher at 27,575.04 and hovered between the range of 27,618.14 and 26,585.20 before closing at 26.656.83. In the week, the Sensex lost 813.98 points or 2.96 per cent. In last four weeks, the Sensex had gained 1,607.51 points or 6.21 per cent.

The NSE Nifty dropped by 229.65 points or 2.77 per cent to 8,065.80. In previous four weeks, Nifty had gained 426.95 points or 5.43 per cent.

Among the S&P BSE Sectoral Indices, Capital Goods fell by 4.40%, Realty 3.68%, bankex 3.48%, FMCG 3.31%, Metal 2.98%, Oil&Gas 2.91%, Power 1.95% and Auto 1.3%. The BSE Small-cap and Mid-cap fell by 1.77% and 1.47% respectively.