Sensex loses over 4% during week

Written by Markets Bureau | Mumbai | Updated: Nov 26 2011, 06:09am hrs
Indian benchmark indices ended the day with losses, continuing with its losing streak for the fourth consecutive week on the back of selling pressure from foreign funds and weak global cues. In the intra day trading session, markets witnessed a lot of volatility and at close, the 30-share Sensex of BSE was down by 163.06 points or 1.03% at 15,695.43. The broader S&P CNX Nifty of National Stock Exchange (NSE) closed the day at 4,710.10 witnessing a fall of 46.40 points or 0.98%. The main benchmark index has lost over 4% during the week, largely due to selling from the foreign funds and rupee depreciation.

According to the provisional figures furnished by the Bombay Stock Exchange (BSE), foreign institutional investors (FII) sold stocks worth over R805 crore while domestic institutional investors (DII) bought stocks of R1,037 crore on Friday. In the current current calendar year, FIIs have sold over $0.46 in the Indian equity markets.

Deven Choksey, MD at KR Choksey Securities, said, nothing much has changes in the last few weeks and it might remain the same way in the days to come. The markets is eagerly waiting for rupee to stabilise and FIIs selling to abate; once that happens we might see some bounce-back as our markets are oversold after the recent correction. He also added that, some policy reforms in the current winter session might also cheer the markets in the days to come.

In the BSE Sectoral indices, capital goods, realty and PSU reamined the top performers for the day while Teck, Metal and IT remained the worst performers. On Friday, most Asian markets ended the day on negative note. While China's Shanghai Se Composite was down at 0.72%, Hong Kong's Hang Seng Composite ended lower by 1.44% and South Korea's Kospi Index lower by over 1%.

The NSEs derivatives segment reported a turnover of over R85,500 crore crore on froday, lower by 67% as compared to the previous session. While the turnover in the cash segment on the NSE was approximately at over R9,900 crore, it was also lower by over 18% against the previous days trade volumes.