Weekly review: Market snaps four week gains, ends with minor losses

Mumbai: Snapping the four week gains, the market ended with minor losses as the BSE benchmark Sensex fell 67.92 points to close at 25,269.64, while the NSE Nifty ended on flat note slipping a marginal 3.45 points and managed to hold the crucial 7,700-level.

After long holiday, the market witnessed rollercoaster ride witnessing biggest single-day fall and gains for the month during the week.

It opened weak on caution due to March monthly expiry and fears of US rate hike amid hawkish tone of key FOMC members, though early slide was largely underpinned by fall in HealthCare stocks on observation by the USFDA on various Indian Pharma Plants.

The market did a U-turn on global rally following encouragement from US Federal Reserve Chairwoman Janet Yellen's decision on interest rate hike to proceed cautiously on raising it in the midst of global risk factor.

The last two-session of the trade saw the key indices turning the trend to a consolidation mood on bouts of volatility with global markets under pressure after dismal Japanese manufacturing data rekindled economic slowdown worries resulting massive plunge in Tokyo, along with a fresh fall in crude and caution ahead US jobs data, while the impending domestic Q4 earning season added to the selling pressure.

Selling was mainly led by HealthCare, Metal, Teck, IT and PSUs and buying was witnessed in Realty, Power, FMCG, Bankex and Auto sectors, while the broader midcap and smallcap shares also witnessed good buying activity.

The Sensex resumed higher at 25,417.11 and hovered between a high of 25,479.62 and low of 24,835.56 before closing the week at 25,269.64, showing a loss of 67.92 points or 0.27 percent.

The NSE 50-share Nifty ended flat by marginal loss of 3.45 points or 0.04 to finish at 7,713.05.

Back home, in the broader market, the BSE Mid-Cap index advanced 117.85 points or 1.12 percent to settle at 10,642.32. The BSE Small-Cap index advanced 138.04 points or 1.31 percent to settle at 10,639.84. Both these indices outperformed the Sensex.

Among the S&P, BSE sector and industry indices, Realty rose by 2.74 percent followed by Power 2.65 percent, Fast Moving Consumer Goods 2.05 percent, Bankex 1.85 percent, Capital Goods 0.65 percent, Auto 0.30 percent and Consumer Durables 0.16 percent, while Health Care fell by 2.19 percent, followed by Metal 2.02 percent, Teck 0.71 percent, IT 0.22 percent and Oil & Gas by 0.14 percent.

In the 30-share Sensex pack, 16 stocks declined and the remaining 14 gained during the week.

Among major Lossers,Telecom major Bharati Airtel lost by 6.50 percent it was the top loser from the sensex pack, followed by HDFC 4.43 percent, M&M 3.90 percent, Lupin 3.88 percent, Sun Pharma 3.60 percent, Cipla 3.58 percent, Coal India 3.29 percent, ONGC 2.70 percent, Gail 2.37 percent, Dr Reddy 2.21 percent, TCS 0.78 percent and HUL 0.71 percent.

However, heavweight and cigarette major ITC rose by 3.58 percent, it was the top gainer during the week, followed by Hero Motoco by 2.95 percent, Axis Bank 2.74 percent, Bajaj Auto 2.55 percent, Asian Paints by 2.45 percent, NTPC 2.04 percent, Adani Ports 1.91 percent, ICICI Bank 1.84 percent, HDFC Bank 1.53 percent and Wipro by 1.12 percent.

The total turnover at BSE and NSE rose to Rs 13,792.46 crore and Rs 96,668.10 crore, respectively, as against the last weekend's level of Rs 9,153.54 crore and Rs 49,672.25 crore.