0

0

0

0

0

0

0

0

0

This article is more than 3 year old.

Sensex, Nifty post biggest ever weekly fall as equity sell-off continues

Mini

For the week, equity market posted its biggest ever weekly fall in absolute terms with the BSE Sensex slipping 1,850 points and Nifty more than 600 points.

Sensex, Nifty post biggest ever weekly fall as equity sell-off continues
Indian shares fell sharply on Friday with the BSE Sensex closing lower by 792 points to 35,377, while the Nifty ended down by 283 points to end at 10,316. Benchmark indexes fell to the lowest closing levels seen since April this year. For the week, equity market posted its biggest ever weekly fall in absolute terms with the BSE Sensex slipping 1,850 points and Nifty more than 600 points.
Trade sentiment remained subdued and the fall extended after RBI announced a status quo policy with stance being changed to ‘Calibrated Tightening’. The Reserve Bank of India kept repo rate unchanged at 6.50 percent.
Market breadth was deeply in favour of declines with the NSE advance-decline ratio at 2:7. Broader indices also plunged with the Nifty Midcap falling 437 points to 16,300 and the Nifty Bank by 376 points to 24,443.
Of all 50 Nifty stocks, only 8 stocks closed in the green with majority of them from IT and pharma sectors. Amongst losers, Reliance, HDFC, ITC, ONGC and ICICI Bank topped the chart. Energy and financial shares contributed over 60 percent in the Nifty fall.
In the futures market on Friday, Nifty 10,500 Call option added a little more than 17 lakh shares in the open interest with premium falling 65 percent. Nifty Put option of 10,200 added 4.5 lakh shares in the open interest with premium moving 112 percent higher. Nifty October futures closed with a discount of 23 points against a premium of 32 points on Thursday.
Asia markets saw broad declines on the final trading day of the week, mirroring overnight losses on Wall Street. The Nikkei 225 was down by 0.8 percent to close at 23,783.72, while the Topix index slipped by 0.47 percent to 1,792.65.
South Korea’s Kospi slid 0.31 percent to close at 2,267.52, as shares of heavyweight Samsung Electronics ended largely flat.
Hong Kong's Hang Seng index slid by 0.19 percent to close at 26,572.57, with computer major Lenovo's stock dropping by 15.1 percent.
Down Under, the ASX 200 bucked the overall trend to edge up 0.15 percent to close at 6,185.5, with the energy sector also edging up by 0.15 percent.
Oil and gas explorer Beach Energy, which had earlier announced the sale of a 40 percent stake in its Victorian Otway gas assets and trimmed its earnings guidance for fiscal year 2019, saw its stock decline by 3.65 percent.
China's markets were closed for the Golden Week holiday.
next story