In the last week, Indian market fell in line with the weakness seen in the global markets. US markets suffered its worst intraday fall in history on Monday with Dow falling by about 1600 points. On Thursday also the US indices tumbled 4 percent.
The fall got translated into weakness in Asian markets including India. The fall was led by big cuts in sectors like banks, smallcaps, midcaps, capital goods, and IT.
On February 6 due to global turmoil the Sensex opened 1000 points lower at 33,753, meanwhile during the day it shed 1274 points but recovered a bit and closed at 34,195.94.
On Wednesday, the Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6 percent but highlighted its cautious view on rising inflation.
During the week, the fall was largely led by both domestic and global factors. On the domestic front, the rise in crude oil prices, fiscal slippage, the rise in interest rates and long-term capital gains tax (LTCG) weighed on sentiment.
Nifty50 lost 305 points (2.8 percent) closed at 10454.95 and Sensex shed over 1,061 points (3 percent) ended at 34005.76 in the week ended February 9.
The foreign investors sold equities worth Rs 8,260.96 crore. However, domestic institutions also bought Rs 6,286.58 crore worth of equities in last week.
India’s volatility index (India VIX) rose 26 percent last week. S&P BSE Midcap index was up 0.36 percent, S&P BSE Smallcap index rose 1.82 percent, while S&P BSE largecap index shed 2.5 percent.
Capital goods index underperformed the other sectorial indices with 3.5 percent cut during the week.
TCS lost most of its market value on the Sensex, followed by HDFC Bank, HDFC and L&T.
152 stocks has touched the 52-week high including Ashok Leyland, Bharat Financial Inclusion, Escorts, Polaris Consulting, INOX Leisure, while 356 stocks touched 52-week low including Lupin, Glenmark Pharma, India Cements, Andhra Bank, Exide Industries, Bajaj Hindusthan, Castrol India in the week ended February 9, 2018.moneycontrol