Indian market: Sensex declines by 98.30 pts during week
Mumbai, Jun 8 (UNI) The benchmark index of Bombay Stock Exchange (BSE) fell by 98.30 points to settle at 39,615.90 in the week ended on Friday after the forecast of a delay in the onset of the southwest monsoon and concerns over global trade tensions in Amercial and China.
The Nifty 50 index too fell by 52.15 points at 11,870.65.
The investors booked profits after apex bank cut repo rate by 25 basis points to lowest in nine years.
The BSE Mid-Cap index fell 189.80 points or 1.26 pc to settle at 14,906.38. The BSE Small-Cap index fell 209.95 points or 1.41 pc to settle at 14,657.09.
Trading for the week began on a strong note. Strong buying demand in index pivotals triggered a sharp rally on the bourses Monday as the Sensex surged 553.42 points or 1.39 pc to settle at 40,267.62 and the Nifty 50 index spurted 165.75 or 1.39 pc at 12,088.55.
The sentiment was boosted by steep slide in crude oil prices.
On Tuesday, the Sensex was dropped by 184.08 points or 0.46 pc to settle at 40,083.54 ahead of RBI's Monetary policy. The Nifty 50 index fell 66.90 points or 0.55 pc at 12,021.65.
Domestic stock market was shut on Wednesday on account of Id-Ul-Fitr (Ramzan Id).
The market dropped sharply on Thursday as investors booked profits after the central bank cut key rates on expected lines. The Sensex crashed 553.82 points or 1.38 pc to settle at 39,529.72. The Nifty 50 index fell 177.90 points or 1.48 pc to settle at 11,843.75.
Though immense volatility was witnessed in equity market, the sensex managed to end positive recovering by 86.18 points to 39,615.90 while the Nifty 50 index rose 26.90 points or 0.23 pc at 11,870.65.
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