Benchmark indices face first weekly decline, steepest in 20 weeks
Sensex and Nifty faced their first weekly decline after four weeks of gains on Friday. The Sensex dropped to a low of 72,485 while the NSE Nifty 50 dipped to a low of 21,932.
Sensex and Nifty faced their first weekly decline after four weeks of gains on Friday. The Sensex dropped to a low of 72,485 while the NSE Nifty 50 dipped to a low of 21,932.
range bound movement of the market is likely to be broken with an upward move soon, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Earlier, the Nifty opened deep in the red at 16,924.45 points and slumped to a low of 16,917.25 points in the morning trade. The Nifty rose to a high of 17,092.25 points in the intra-day.
On Monday, Sensex settled at 56,580 points, down 1.1 per cent, whereas Nifty was at 16,985 points, down 1.1 per cent.
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Both the BSE Sensex and the NSE Nifty50 touched their respective record intra-day highs of 38,938.91 points and 11,760.20 points.
The benchmark BSE Sensex, which had opened at 38,472.03 points, closed at 38,694.11 points, higher by 442.31 points or 1.16 per cent from its previous close of 38,251.80 points.
Amid a largely choppy trade, the key Indian equity indices of S&P BSE Sensex and the NSE Nifty50 settled at their respective closing highs on Tuesday registering nominal gains over the previous trade.
Apart from global cues, outflow of foreign funds from the Indian equity and bond markets has had an adverse impact on the rupee.
Key equity indices rose to fresh highs on Thursday, with the benchmark BSE Sensex crossing the 38,000 level for the first time.
