Equity markets end week with big losses (Weekly Market Review)

September 6th, 2008 - 3:19 pm ICT by IANS  

Mumbai, Sep 6 (IANS) Indian equity markets had a poor week despite a good start, thanks to weak global markets. The markets ended in the red in three out of four trading sessions. They were closed for Ganesh Chaturthi Wednesday.

The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, lost 80.70 points or 0.55 percent to slip to 14,483.83 in the week. The S&P CNX Nifty index of the National Stock Exchange lost 7.70 points or 0.17 percent to 4,352.30.

The BSE Small-Cap index rose 13.58 points or 0.2 percent to 6,905.22. The BSE Mid-Cap index advanced 11.43 points or 0.2 percent to 5,753.72.

The Sensex lost 66.02 points or 0.45 percent Monday to end at 14,498.51.

A sharp fall in crude oil price helped the key benchmark indices register gains on Tuesday. The Sensex jumped 551.35 points or 3.80 percent to 15,049.86. The Nifty was up 155.35 points or 3.57 percent to 4,504.

After Wednesday’s break, weak global cues pulled the Sensex down 150.76 points or 1 percent to 14,899.10 Thursday. The Nifty lost 56.25 points or 1.12 percent to close at 4,447.75.

The uncertainty over the India-US nuclear deal weighed heavily on market sentiment Friday, pulling down the Sensex by 415.27 points or 2.79 percent to 14,483.83.

India’s biggest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) lost 2.68 percent to Rs.2079.40 in the week.

Tata Motors, India’s biggest commercial vehicle maker by market share, lost 4.6 percent to Rs.419.95.

However ONGC, India’s biggest state-run oil exploration firm by market capitalization, jumped 4.6 percent to Rs.1,070.75.

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