Mumbai : The market snapped its two week gaining streak, falling 231.52 points to 25,606.62 in a volatile trading sessions swayed by global and domestic factors. The monthly derivative expiry week also riddled by domestic earning results, US Fed and Bank of Japan meetings impacting the sentiments.
Caution also set due to Parliaments's Budget session got underway during the week with concerns pertaining over the key Goods and Service Tax (GST) bill for the passage in parliament.
Although the key indices retook the crucial 26K-level on recovery in global stocks amid crude rebound and solid domestic Q4 numbers in select blue-chips for two sessions, it was squeezed by Bank of Japans decision to cease from fresh stimulus by keeping interest rates unchanged and somewhat hawkish US Fed indicating higher chances of rate hike in June depressing global stocks pulling-down the domestic indices.
Despite good FII inflows in to domestic equities the fag-end trade saw mute earning results in key blue-chip playing spoil-sport on trading momentum. The Sensex resumed higher at 25,891.03 and surged to6-month high of 26,100.54 and low of 25,424.03 before closing the week at 25,606.62, showing a loss of 231.52 points or 0.90 per cent. It has gained by 1,164.30 points of 4.72 per cent in previous two weeks.
The NSE 50-share Nifty also fell by 49.50 points or 0.63 per cent to close the week at 7,849.80 after touching a high of 7,992.00 during the week. The Nifty also had gained 344.10 points or 4.55 per cent in previous two weeks. Selling was seen in most of the spectrum led by power, PSUs, consumer durables, auto, capital goods, oil&gas, FMCG, metal and IT sectors followed by smallcap shares.While, realty, banks, tech witnessed buying followed by midcap shares.
