Mumbai: The BSE benchmark Sensex fell to mark biggest weekly loss in a month, falling 257.62 points to finish at 26,489.56, while the broader Nifty fell below the crucial 8,150-level.
The market began the week on negative note with dismal IIP data, US president-elect Trumps blunt talk on visas and surging crudeoil affecting the stocks, however, immense caution focused on two day US Fed Reserve policy meeting.
When the US Fed increased the rate which was expected, it is the hawkish tone of indicating three more hikes in the coming year led fears of capital flights from emerging markets on strong US bonds yields and dollar strength set-off nervousness in trading community,
Sentiments were on the edge as investors opted for bouts of shortcovering gains for the week, with GST wash-out in Parliament winter session, widening trade-deficit data set-off negative mood for the week.
While comforting macrodata's retail inflation (CPI) and Wholesale inflation (WPI) were overlooked. Stock specific selling pressure on dismal earning results like Coal India led the market to down-hill.
During the week, the Sensex lost 257.62 points, or 0.96 percent, to end at 26,489.56. It hovered in the range of 26,737.86 and 26,407.58.
The Nifty 50 index during the week fell 122.30 points, or 1.48 percent, to finish at 8,139.45 after shuttling between 8,230.65 and 8,121.95.
The selling was led by Metal, FMCG, PSUs, HealthCare, Bankex, Oil&Gas, Power, Realty, CapitalGoods, Auto, Consumer Durables and IPOs, while shares of midcap and smallcap also witnessed widespread selling.
Buying was witnessed in IT and Teck counters.
Meanwhile, foreign portfolio investors (FPIs) and
foreign institutional investors (FIIs) sold shares worth Rs 1,370.92 crore during the week, as per Sebi's record including the provisional figure of December 16.
In the broader market, the BSE Mid-Cap index fell by 298.65 points or 2.38 percent, to settle at 12,236.57. The BSE Small-Cap index fell by 206.56 points or 1.68 percent, to settle at 12,113.52. Both these indices underperformed the Sensex.
Among sectoral and industry indices, Metal fell 4.43 percent followed by FMCG 2.88 percent, Bankex 1.99 percent, Oil&Gas 1.95 percent, Power 1.43 percent, realty 1.16 percent, Capital Goods 1.16 percent, Auto 1.12 percent and Consumer Durables 1.07 percent.
However, IT rose by 2.23 percent followed by Teck 1.03 percent.
Among the 30-share Sensex pack, 24 stocks fell, six stocks rose.
Major lossers from the Sensex pack were, ONGC 34.28 percent, Coal India 6.18 percent, Bharti Artl 5.79 percent, ICICI Bank 4.75 percent, Hero Motoco 4.60 percent, Asian Paints 4.40 percent, ITC 3.92 percent, Sun Pharma 3.85 percent, Tata Steel 3.76 percent, HUL 3.26 percent and Gail 3.24 percent.
While, TCS rose by 4.03 percent, Axis Bank 3.61 percent, Reliance 3.03 percent, Infosys 1.71 percent, Tata Motors 1.82 percent and Wipro 1.09 percent.
The total turnover during the week on BSE rose to Rs 12,267.93 crore from last weekend's level of Rs 11,740.51 crore while NSE gained to Rs 82,768.15 crore from Rs 76,902.18 crore.