Mumbai: The curtailed trading week saw the Sensex falling below the psychological 28k-level amid intense volatility, losing 387.54 points, while the broader Nifty going below the key 8,600-level.
The heavily curtailed three session trading week saw the market opening on lacklustre note as sentiment bridled due to holidays and government release of key economic data like IIP, CPI and WPI and keenly watched corporate results, while the key indices started positive and traded choppy later part of week.
The stock Exchanges remained closed on Tuesday and Wednesday for "Dussehra" and "Moharrum" during the week.
The initial positiveness shortlived and the index suffered sharp losses during second session trade due to intense volatility and selling pressure impacted by poor Chinese trade data and US rate hike fears as well as subdued August domestic Industrial production (IIP) data.
However, easing September 4.31 percent CPI and 3.57 WPI inflation along with mixed start of quarterly results somehow failed to cheer the investors sentiment due to weak revenue guidance outlook from IT bellwether Infosys, however, the index did consolidate with minor gains during weekend trade despite incurring weekly losses.
The BSE benchmark Sensex resumed higher at 28,144.28 and hovered between 28,216.64 and 27,548.18 before ending the week at 27,673.60, showing a loss of 387.54 points or 1.38 percent.
The NSE Nifty also dropped by 114.20 points or 1.31 percent to end the week at 8,583.40.
Selling was led by Realty, Bankex, Power, Auto, Metal, FMCG followed by secondline shares of midcap and smallcap companies.
Buying interest was witnessed in Oil&Gas, IT, Power and Capital Goods sectors Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth Rs 2,276.52 crore during the week, as per Sebi's record including the provisional figure of October 14.
In the broader market, the BSE mid-cap index lost 123 points or 0.91 percent to settle at 13,419.62. The BSE small-cap index fell 45.64 points or 0.35 percent to settle at 13,176.76. The fall in both these indices were lower than the Sensex's decline in percentage terms.
Among the S&P, BSE sector and industry indices, realty fell by 2.59 percent, followed by bankex 1.97 percent, power 1.33 percent, auto 1.29 percent, metal 0.97 percent, FMCG 0.92 percent, healthcare 0.52 percent and tech 0.36 percent.
However, oil and gas rose by 0.80 percent followed by IT 0.72 percent, capital goods 0.36 percent and consumer durables 0.03 percent.
Among the 30-share Sensex pack, 20 stocks fell and remaining 10 stocks rose during the week.
HDFC lost 6.15 percent. The company announced that pursuant to the approval of the board of directors of the company at its meetings held previously, the company is contemplating, subject to market conditions, undertaking the fourth issuance of rupee denominated bonds to overseas investors.
It was followed by Adani Ports 4.72 percent, Bharti Airtel 4.30 percent, HUL 4.14 percent, ICICI Bank 3.49 percent, Reliance 2.86 percent, Bajaj Auto 2.61 percent, SBI 2.46 percent and Axis Bank 2.38 percent.
GAIL (India) rose 3.90 percent. GAIL (India) on Monday, announced it has received intimation from the Ministry of Petroleum and Natural Gas that the Cabinet Committee on Economic Affairs (CCEA) approved 40 percent capital grant (limited to Rs 5,176 crore) of the estimated capital cost of Rs 12,940 crore to GAIL (India) for execution of Jagdishpur-Haldia/Bokaro-Dhamra gas pipeline (JHBDPL) project by 2020.
It was followed by ONGC 3.31 percent, Cipla 2.96 percent, Asian Paints 1.88 percent and Infosys 1.46 percent.
The total turnover during the week on BSE and NSE declined to Rs 9,870.75 crore and Rs 59,232.39 crore, respectively, as against last weekend's level of Rs 19,026.44 crore and Rs 1,05,459.39 crore.