Mumbai,The equity market crashed for the second straight week, as BSE Sensex slumped by 966.32 points or 2.82 per cent to settle at 33,349.31, a seven-month-low during the week ended on heavy sell-off in global equities, amid concerns about a slowdown in the world economy.
The recent developments occurred on Friday.Global financial markets have been hit hard by a range of worries, including the US-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields.
The Nifty of National Stock Exchange (NSE) slid by 273.55 points or 2.65 per cent at 10,030.
The BSE Mid-Cap index fell 188.15 points or 1.34 pc to settle at 13,870.15. The BSE Small-Cap index fell 485.28 points or 3.45 pc to settle at 13597.64.
Trading for the week began on a weak note as the BSE sensex fell 181.25 points at 34,134.38. The Nifty 50 index fell 58.30 points or 0.57 pc at 10,245.25.
On Tuesday too the Sensex slid further by 287.15 points at 33,847.23. The Nifty 50 index fell 98.45 points or 0.96% at 10,146.80. Weak global stocks dampened sentiment on the domestic bourses.
Snapping a negative of last four sessions, the Sensex recovered on Wednesday by 186.73 points at 34,033.96.The Nifty 50 index rose 77.95 points at 10,224.75. The Sensex settled a tad above the psychological 34,000 level after moving above and below that level in intra-day trade. The recovery was led to with the sentiment supported by falling oil prices and a firmer rupee.
Thursday and Friday remained worst days for ‘Dalal Street’ as the BSE sensex dropped by 683 points in two sessions.
The equity market was under pressure as the November derivatives series started on a subdued note due to weakness in the Indian currency and weaker leads from global markets.
On Thursday, the Sensex tumbled down by 343.87 points at 33,690.09. The Nifty 50 index lost 99.85 points at 10,124.90. The Sensex settled below the psychological 34,000 level after sliding below that level in the opening trade.
On Friday, it lost another by 340.78 points at 33,349.31. The Nifty 50 index lost 94.90 points at 10,030. Weak global stocks weighed adversely on the domestic bourses.