The market snapped its two week gaining streak, falling 231.52 points to 25,606.62 in a volatile trading sessions swayed by global and domestic factors.
The monthly derivative expiry week also riddled by domestic earning results, US Fed and Bank of Japan meetings impacting the sentiments.
Caution also set due to Parliaments’s Budget session got underway during the week with concerns pertaining over the key Goods and Service Tax (GST) bill for the passage in parliament.
Although the key indices retook the crucial 26K-level on recovery in global stocks amid crude rebound and solid domestic Q4 numbers in select blue-chips for two sessions, it was squeezed by Bank of Japan’s decision to cease from fresh stimulus by keeping interest rates unchanged and somewhat hawkish US Fed indicating higher chances of rate hike in June depressing global stocks pulling-down the domestic indices.
Despite good FII inflows in to domestic equities the fag-end trade saw mute earning results in key blue-chip playing spoil-sport on trading momentum.
The Sensex resumed higher at 25,891.03 and surged to 6-month high of 26,100.54 and low of 25,424.03 before closing the week at 25,606.62, showing a loss of 231.52 points or 0.90 per cent.
It has gained by 1,164.30 points of 4.72 per cent in previous two weeks.
The NSE 50-share Nifty also fell by 49.50 points or 0.63 per cent to close the week at 7,849.80 after touching a high of 7,992.00 during the week.
The Nifty also had gained 344.10 points or 4.55 per cent in previous two weeks.
Selling was seen in most of the spectrum led by power, PSUs, consumer durables, auto, capital goods, oil&gas, FMCG, metal and IT sectors followed by smallcap shares.
While, realty, banks, tech witnessed buying followed by midcap shares.
Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth whopping Rs 1,281.43 crore during the week as per Sebi’s record including the provisional figure of April 29.
In the broader market, the BSE Mid-Cap index rose 24.28 points or 0.22 per cent to settle at 11,042.92, outperforming the Sensex. The BSE Small-Cap index shed 58.25 points or 0.53 per cent to settle at 11,020.59. The fall in this index was lower than Sensex’s decline in percentage terms.
Among the S&P, BSE sector and industry indices, power fell by 2.21 per cent, followed by consumer durables 1.25 per cent, auto 1.24 per cent, capital goods 1.21 per cent, Oil & Gas 1.08 per cent, FMCG 0.90 per cent, metal 0.77 per cent, IT 0.14 per cent and healthcare 0.04 per cent.
However, realty rose by 3.75 per cent followed by Bankex 0.42 per cent and tech 0.31 per cent.
Among the 30-share Sensex pack, 22 stocks declined and the rest of them rose during the week.
Major loser was, ICICI Bank dropped 6.09 per cent to Rs 236.60 and was the top loser from the Sensex followed by SBI 5.48 per cent, Reliance 5.41 per cent, HDFC 3.56 per cent, Hero Motoco 3.52 per cent, NTPC 3.04 per cent, HUL 2.00 per cent, Tata Motors 1.94 per cent, Bhel 1.80 per cent and Gail 1.75 per cent.
While TCS rose by 4.67 per cent followed by HDFC Bank 3.77 per cent, Adani Ports 3.36 per cent, Lupin 3.18 per cent, Bharti Airtel 3.02 per cent, Cipla 1.03 per cent and ONGC 0.81 per cent.
The total turnover at BSE and NSE rose to Rs 15,283.21 crore and Rs 94,953.22 crore, respectively, as against last weekend’s level of Rs 10.743.69 crore and Rs 75,491.52 crore.