Fair
-9°CFri :Mostly Sunny. High: -2 Low: -16

Weekly roundup: BSE Sensex falls for 2nd-straight week; down 251 points

Weekly roundup: BSE Sensex falls for 2nd-straight week; down 251 points

New Delhi: Indian stock market snapped a three-session losing streak to gain nearly 2 percent on Friday, although it was not enough to prevent it from posting its second consecutive weekly fall.

Continued fall in rupee against the dollar, weakness in global stocks coupled with slow growth in industrial production in April hit sentiment.

The S&P BSE Sensex, however, managed to settle above the psychological 19,000 mark after alternately moving above and below that mark during the weak.

In the week ended Friday, 14 June, the 30-share S&P BSE Sensex dropped 251.30 points or 1.29 percent to 19,177.93. The 50-unit CNX Nifty fell 72.60 points or 1.23 percent to 5,808.40.

The S&P BSE Mid-Cap index fell 3.24 percent while the S&P BSE Small-Cap index fell 3.18 percent. Both these indices underperformed the Sensex.

Investors are now looking ahead at the Reserve Bank of India’s policy review on Monday as the next key trigger, along with movements in global markets.

Although most analysts expect the central bank to keep rates on hold, an outside chance was seen after India’s headline inflation slowed for a fourth straight month in May to 4.7 percent from a year earlier.

US Federal Reserve’s outlook on its bond buying programme and the pace of foreign institutional investment flows would also be key in determining the direction of the market next week.

Fears the US Federal Reserve could begin reducing its bond buying later in the year have fuelled a selloff in global markets this week, which has bruised stocks, bonds, emerging market assets and the dollar alike.

 

Top Stories

apple_iPhone_6_triple

Apple expands iPhone costs in India

March-05-2015
NEW DELHI: About a week post the union plan, Apple has expanded costs of all its cell phones in India by up
630_11

Home Ministry Sends Nirbhaya Documentary Ban Order to BBC

March-05-2015
New Delhi: The Home Ministry, sources said, has sent a duplicate of the court request disallowing the broadcast of the narrative “India’s
pmmodi-ss-20-02-15

Modi hammers resistance for blocking section of Land Bill in RS

March-05-2015
Affirming that the area bill is not hostile to rancher, Prime Minister Narendra Modi today scrutinized the restriction for making obstacles in
IN03_RAJNATH_1981452f

Strict Action against those exasperating collective amicability, says Rajnath Singh

March-04-2015
Strict move will be made against the individuals who aggravate collective amicability, government declared in Rajya Sabha on Wednesday while expressing that
1425454837antibiotics

India lessens costs of 509 crucial medications

March-04-2015
New Delhi: National Pharmaceutical Pricing Authority (NPPA) has settled the max cost of 509 vital medications, which prompted a drop in costs
Yogendra-Ashish-Arvind--PTI

Kejriwal Vs Yogendra Yadav: Know ‘actual reasons’ the reason knives are out in AAP’s session of thrones

March-04-2015
knives are out in Arvind Kejriwal drove Aaam Aadmi Party which as of late came to power in Delhi in the wake