Nifty shed 197 points during the week ended at 9998 and Sensex fell 597 points to closed at 32596.
Nifty slipped below 10,000 mark for the first time since October 12, 2017 in the week ended March 23 on the back two major development in the US markets. However, on Friday Sensex also opened at lowest level since December 18, 2017.
The Nifty50 index made a strong bearish candle on the weekly charts and a small bearish candle on the daily charts on Friday.
The index came under pressure this week following a rate hike by the US Federal Reserve and after US President Donald Trump signed a presidential memorandum that could impose tariffs on up to USD 60 billion of imports from China. This ignited fears of a possible trade war across the globe.
The Indian benchmark indices mostly remained under pressure during the week, after falling over 100 points on Monday, the Nifty saw some marginal relief rally in next two days.
On Thursday, the Nifty50 rose above its 200-days moving average (DMA) in morning trade after the Federal Open Market Committee on expected lines hiked rates by 0.25 percent to take the upper range from 1.50 percent to 1.75 percent at the conclusion of the two days meeting. However, it has ended 40 points lower on selling pressure.
Benchmark indices opened sharply lower on Friday, tracking steep fall in global peers on US-China trade war worries.
For the week, the benchmarks indices traded with high volatility with corrective bias as it declined for the third consecutive week.
Nifty shed 197 points during the week ended at 9998 and Sensex fell 597 points to closed at 32596.
The foreign investors bought equities worth Rs 2,524.13 crore. However, domestic institutions bought Rs 211.91 crore worth of equities in last week.
India’s volatility index (India VIX) rose 2 percent last week. S&P BSE Midcap was down 3.2 and largecap index declined 2 percent and S&P BSE Smallcap index plunged 4.4 percent.
Realty index underperformed the other sectorial indices with 7 percent cut during the week.
State Bank of India lost most of its market value on the Sensex, followed by ICICI Bank, Yes Bank and Coal India.
113 stocks has touched the 52-week high including KPIT Technologies, Mastek and Jyoti, while 500 stocks touched 52-week low including BHEL, Capital First, Corporation Bank in the week ended March 23, 2018.
