The NSE 50-share Nifty moved down by 34.05 points

Mumbai: The NSE 50-share Nifty also moved down by 34.05 points or 0.45 per cent to finish at 7,568.55. It has dropped by 222.10 points of 2.85 per cent during the two weeks. Foreign Portfolio Investors (FPIs) bought shares worth a net Rs 2,217.01 crore during the week as per SEBI's record, including the provisional figure of August 8. Jignesh Chaudhary, Head of Research, Veracity Broking Services said, "Equity markets had a firm start in the week but when the RBI Policy was announced  it managed to close in green on Tuesday. Then it started falling back with the global concern of Ukraine, Iran and the virus threat. FII were observed in the selling position on last day of the week. Profit booking was also observed in the markets."

"In the next trading week there would be one day short, but there are some major economic data release which are scheduled for Indian economy. The IIP data and inflation Data is scheduled in the next week so the markets would be reacting on the data release and for US economy Core sales data is also scheduled and that is expected to be unchanged in comparison with the previous data release," he added. "The technical indicators are expecting some corrections in the Indian market so the BSE Sensex is expected to trade in the range of 24,900 to 25,250 and Nifty is expected to trade in the range of 7,495 to 7,550," he further commented.