Mumbai: The benchmark Sensex witnessed sharp losses for the second consecutive week, falling 638.72 points to end at 31,283.72, while the broader Nifty slid below the key 9,800-level at 9,788.60 on heavy FPI sell-off along with volatile rupee.
The market felt the global uncertainities with FPI offloading indian stocks considerably during the week, while rupee falling to over six and half month lows pressured the stocks, the key F&O expiry week and government stimulus plan affecting fiscal deficit concerns added to stock turmoil.
The FII diluted whopping 8,427.99 crore as per provisional data during the week trade appropriating global unpredictability due to North Korean jitters. Also the key EU powerhouse Germany's Angela Merkel worst election result won with uneasy coalition of far-right, anti-immigration Alternative for German (AfD) party fluctuated the market.
The volatile rupee dropped to six and half month lows on surging US dollar reacting to President Trumps new Tax Plan overhaul and strong data, it was clogged by soaring crudeoil to 7-month highs also attributed to the stock slide.
However, stocks did pullback on recovering rupee and massive inflows from domestic funds, while receding fiscal deficit worries on government's unchanged stance on budgeted borrowing plan along with hectic shortcovering owing to September derivative expiry supported the key indices.
After opening at 31,986.40, the Sensex traded in a range of 32,016.52 and 31,081.83 before closing the week at 31,081.83, showing a fall of 638.72, or 2.00 percent.
The Sensex lost 350.17 pts or 1.09 pct during previous week.
The Nifty started the week at 9,960.10 and hovered between 9,960.50 and 9,687.55. The index ended the week at 9,788.60, lossing 175.80 points or 1.76 percent.
Barring Metal sector which gained, Selling was led by Capital Goods, HealthCare, FMCG, Power, Banks, IPO, IT, Teck, PSUs, Auto, Oil&Gas and Realty counters.
The second line shares of midcap and smallcap companies also witnessed substantial selling.
Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth Rs 8,427.99 crore during the week, as per Sebi's record including the provisional figure of September 29.
The S&P BSE Mid-Cap index declined 1.11 percent. The S&P BSE Small-Cap index shed 1.10 percent. The losses in both the indices was lower than the Sensex's slide in percentage terms.
Among sectoral and industry indices, capital goods declined by 3.24 percent followed by healthcare 2.72 percent, FMCG 2.52 percent, power 1.48 percent, bankex 1.36 percent, IPO 1.36 percent, IT 1.17 percent, teck 1.11 percent, auto 0.74 percent, auto 0.74 percent, oil&gas 0.66 percent and realty 0.32 percent, while only metal rose by 1.69 per cnt.
Among the 31-share Sensex pack, 23 stocks fell and remaining 8 stocks rose during the week.
Asian Paints slumped by 8.07 percent.
It was followed by Adani Ports 5.92 per cnt, HUL 5.20 percent, Dr Reddy 5.18 percent, Wipro 4.46 percent, Reliance 4.32 percent, ITC 3.73 percent, L&T 3.69 percent and Tata Motors DVR 3.66 percent.
While, Coal India was the top Sensex gainer. The stock jumped by 6.58 percent
It was followed by Bajaj Auto 2.97 percent, Axis Bank 1.19 percent and Power Grid 0.81 percent.
The total turnover during the week on BSE fell to Rs 19,363.96 crs as against last weekend's level of Rs 25,207.37 crores, While NSE rose to 1,50,308.52 compared to Rs 1,47,214.93 crs previously.