Mumbai: Benchmark domestic indices snapped their two-week rising streak dragged by higher crude oil prices due to escalating West Asia conflict. During the holiday-shortened week, the 30-share Sensex at the Bombay Stock Exchange declined 1 thousand 605 points, or 2.14 per cent, to close at 73 thousand 124.
The National Stock Exchange Nifty 50 lost 546 points, or 2.35 per cent to end at 22 thousand 600. The sell-off spread beyond large-cap stocks, with mid-cap and small-cap indices experiencing sharper declines as investors reduced exposure amid rising uncertainty.
In the broader market at the National Stock Exchange, Midcap 100 index shed 5.6 per cent, while the Nifty Smallcap 100 index tanked more than 7 percent during the week.
Across sectors, IT was the lone pocket of resilience, recovering from early selling to end the week largely unchanged on improving earnings visibility and renewed investor appetite.
Among the major laggards, Nifty Defence index plunged seven per cent, followed by the Nifty Consumer Durables index, which fell 6.4 per cent. Investors’ wealth eroded this week, with the total market capitalization of BSE listed companies declining by nearly 21 lakh crore rupees.
In the forex market, the Indian rupee appreciated marginally this week to settle at 94 rupees and 94 paise against the US dollar.
[AIR news]