Dismal earnings of key corporates coupled with falling crude oil prices and global sell-off dragged the BSE Sensex and NSE Nifty down by one percentage point for the week ended February 5, 2016. However, bargain hunting and hopes of GST Bill in the upcoming Budget session of Parliament capped the downside. During January 29 and February 5, Sensex slid 253 points to 24,616.97, while Nifty lost 74.45 points to 7489.10. In the 50-share index, NTPC slid the most \u2014 12.11 per cent during the week under review, followed by Maruti Suzuki (down 8.90 per cent), ICICI Bank (down 8.41 per cent) and Bosch (7.93 per cent). On the other hand, Lupin and Bharti Airtel gained by 6.10 per cent and 5.90, respectively. Sectorwise, the BSE Power index and BSE Real index slid 5.70 per cent and 3.40 per cent and remained among the top losers. The BSE FMCG index and BSE Consumer Durables index jumped 1.42 per cent and 0.49 per cent, respectively, during the week. Gaurav Jain, director, Hem Securities, said, \u201cContinued slumping of crude oil prices, global sell-off, hawkish tone of RBI governor and no change in its monetary policy review, worries of China slowdown and weak earnings of key companies dragged indices lower by about 1 per cent in the week gone by. However, buying interest from lower levels, bounce back in crude oil prices and hopes of passing GST Bill in the upcoming Union Budget session of Parliament supported the indices cut the losses to some extent.\u201d This week, the Reserve Bank of India (RBI) in its sixth bi-monthly policy statement kept the interest rates unchanged putting the ball in the government\u2019s court to deliver first. Tata Steel on Thursday reported a consolidated net loss of Rs 2,127.23 crore for the quarter ended December 31, 2015 hit by subdued demand in India as well as higher regulatory costs and a strong British pound. Mumbai-based firm had a net profit of Rs 157.11 crore in the year-ago period. Shares of Tata Steel plunged 5.59 per cent in the week gone by. Reliance Infrastructure finally agreed to sell its cement business to Birla Corp for an enterprise value of Rs 4,800 crore marking an exit from non -core business. Teamlease IPO got overwhelming response by getting 66 times over subscription, giving a ray of hope to many others waiting in the queue to raise funds. In the past five trading sessions, foreign institutional investors bought shares worth Rs 603.64 crore and rupee appreciated by 0.35 per cent to 67.64 on February 5. Rupee was at 67.87 levels on January 29. For upcoming trading sessions, Anand James, co head technical research desk, Geojit BNP Paribas, said, \u201cThe tone for the week ahead is likely to be set by US markets\u2019 response to Friday\u2019s Non Farm Pay rolls data release, and the rate hike trajectory it suggest. However, for Indian markets, domestic themes are likely to be take centre stage.\u201d Fourth quarter GDP growth rate figures scheduled for release on February 8 is likely to give traction to the week\u2019s moves. The Budget Session of Parliament is to commence on February 23. The Railway and Union Budget will commence on 25 Feb and 29 Feb, respectively. The first part of the parliamentary session will end on March 16, the second part will be take place from April 25 to May 13. \u201cWith Chinese markets readying itself to enter a week long Lunar New Year holiday which is to commence on 8th February, Indian markets\u2019 opening moves would be largely guided by US close, during such period,\u201d said James.