Mumbai: Both the S&P BSE benchmark Sensex and NSE 50-share Nifty snapped their 5-week winning streak by tumbling 1,112 points and 356 points respectively due to profit-booking from investors in view of global tension amidst foreign capital outflows.
Anupam Singhi, COO, William O’Neil India said,” Trading restrictions announced by SEBI on 331 entities suspected to be shell companies affected the sentiment”.
There was no respite for the market, as North Korea’s warning on a possible missile strike on the U.S. Pacific territory of Guam, spooked the global markets.
The Nifty started the week at 10,074.80 and traded in the range of 9,685.55-10,088.10. The index finally closed at 9,710.80, down 3.53 per cent from last Friday’s close.
The Nifty had gained by 545.50 points or 5.73 per cent in previous five weeks.
After opening at 32,377.80 points, the Sensex gave away 3.44 per cent in this week to close at 31,213.59. During the week, the Sensex traded in a range of 31,128.02-32,396.14.
The Sensex had gained by 1,403.80 points or 4.54 per cent in previous five weeks.
The first ever mid-term economic survey that was tabled in the Parliament during the week, has pointed to downside risks to the government’s earlier GDP growth forecast of 6.75 per cent -7.50 per cent for FY 2018.
Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth Rs 1,624.63 crore during the week, as per Sebi’s record including the provisional figure of August 11.
The broader market also depicted strength. The S&P BSE Mid-Cap index tumbled by 710.68 points or 4.60 per cent to settle at 14,726.27. The S&P BSE Small-Cap index slumped by 890.30 points or 5.59 per cent to settle at 15,036.33. The decline in the both the indices was lower than the Sensex’s fall in percentage terms.