The Indian equity market closed with modest gains amid a choppy session. Nifty managed to hold on to the 7500 mark as sentiment got a boost after the WPI fell for the 16th straight month in February, dropping to -0.91% com- pared to -0.90% in January.
During the last week, the Nifty remained under sustained selling pressure. After making highs at 8330, it re- mained in the red in all five trading sessions to end the week at 8065. Nifty October series settlement was seen near its VWAP levels of 8130.
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The Nifty shed another 1% last week amid high volatility and tested 7350 during the week before recovering towards 7500. Intensity of selling pressure from FIIs also declined as they turned net buyers last week
After a sharp fall witnessed in the penultimate week, the Nifty saw some recovery and gained more than 3 %. The recovery was in line with global cues while European markets were up almost 5% last week
Finally, the BSE Sensex ended today’s trading with a loss of 439 points at 27,643. It opened at 28,043, touched an intra -day high of 28,043 and low of 27,643. The NSE Nifty closed with a loss of 135 points at 8,573. It opened at 8,672, hit an intra-day high of 8,682 and low of 8,541.
After falling for three consecutive trading sessions, the Indian equity market staged a smart comeback on Thursday. Positive cues from the Asian markets coupled with strengthening in the Indian currency against the US Dollar lifted sentiment on Dalal Street.
The Indian Equity Market witnessed its biggest one day loss in percentage terms since June 24 on Monday on account of weak global cues, profit booking and a weak rupee further dampened sentiment
The market witnessed high-powered action in the last two days. After hitting fresh 52-week lows on Budget Day in- dices staged a recovery of sorts as they zoomed with absolute gains not seen in the last seven years. Bears had no- where to hide. Nifty Bank posted biggest single day gains in absolute terms since May 2015.
There was blood on the street as stocks fell like nine pins mimicking global peers. The Indian stock market crashed for the fourth consecutive session. NSE Nifty, Nifty Bank and BSE Sensex posted their biggest intra-day falls since Aug 2015.