INSUBCONTINENT EXCLUSIVE:
The domestic equity market was volatile last week as it saw numerous events from auto sales numbers to RBI policy decision, and OPEC meet
At the same time, a lack of clarity on the trade front was another major reason behind the to-and-fro market movement.
Auto sales numbers
were disappointing for another month as demand was subdued
On the other hand, market participants turned cautious after the Reserve Bank of India (RBI) slashed the GDP forecast for FY20 and kept the
Meanwhile, oil producing countries resolved to cut production to support crude oil prices.
BSE barometer Sensex lost 348.66 points or 0.85
per cent to 40,445 for the week ended December 6
Banking stocks in the index saw some of the biggest movement the week, as RBI decided to keep its policy rates unchanged
The biggest losers in the 30-share pack were YES Bank (down 18 per cent), SBI (6.96 per cent) and IndusInd Bank (6.72 per cent)
Meanwhile, Kotak Mahindra Bank gained 3.75 per cent, TCS 3.42 per cent and its peer Infosys 2.72 per cent.
NSE Nifty index, which snapped
its two-week gaining streak, settled 134.55 points down at 11,921.50
YES Bank was, that saw a Moody’s downgrade during the week, was the biggest loser on the index, shedding 18.59 per cent
Royal Enfield maker Eicher Motors slid 8.57 per cent to Rs 20,920.05 during the week
It was followed by GAIL, which slipped to Rs 117.15, down 7.06 per cent
Kotak Mahindra Bank, TCS and Infosys were top gainers on this index as well, with similar gains as on BSE.
Broader market indices too ended
the week in losses largely due to deep cuts on Friday
The BSE Midcap closed 1.26 per cent down at 14,667
BSE Smallcap slipped 0.86 per cent to 13,339.4.
Biggest gainers from mid and small cap indices were JP Power that gained 37.07 per cent to
Rs 1.58 while JP Infra added 32.14 per cent at Rs 1.85
Asian Oilfield gained 28.95 per cent to Rs 111.50 during the period
Among the biggest losers from these two indices were Thomas Cook (down 59.84 per cent), Adhunik Industries (48.71 per cent) and Seya
Industries (down 22.54 per cent)
