MUMBAI, Sept 28: Snapping the upward streak of last four weeks,the benchmark index of the Bombay stock Exchange (BSE) moved down heavily by 536.44 points to 19,727.27 for the week under review, as the recent unexpected increase in Repo rates by the Reserve Bank of India (RBI) wiped the gain of the domestic equity market.
The NSE Nifty also fell by 178.90 points to 5,833.20.
Investors also turned cautious ahead of the June quarter current account deficit due on Monday which is expected to be higher than March quarter.
The BSE Mid-Cap index fell by 0.98 pc while Small-Cap index rose by 0.21 pc. Both these indices outperformed the Sensex.
On Monday, the key benchmark indices crashed by 362.75 points to settle at 19,900.96 and the Nifty declined by 122.35 points to 5,889.75 after Federal Reserve Bank of St. Louis President James Bullard said that the Federal Reserve could make a small stimulus reduction at its next meeting in October 2013. Fed’s bond-buying program has been a source of liquidity for most Asian and emerging markets this year.
On Tuesday, the Sensex rose marginally by 19.25 points to 19,920.21. The very next day it again ended in red as it fell by 63.97 points to 19,856.24.
On Thursday the market registered a small gain of 37.61 points to 19,893.85 as fresh buying was seen in Health Care, Power, FMCG,Metal and Auto stocks.
Key benchmark indices edged lower in volatile trade on Friday with market sentiment hit adversely by hawkish comments from the Reserve Bank of India governor Dr. Raghuram Rajan that inflation continues to remain high.
Weakness in European stocks also weighed on sentiment. The BSE Sensex was down by 166.58 points to 19,727.27. The Nifty was down 49.05 points to 5,833.20.
(UNI)
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