New Delhi: India’s benchmark BSE Stock Index, Sensex closed down 197 points at 15,572 marking a decline of nearly 1.2% over its previous close. The Nifty too closed down by nearly 50 points at 4,627 points.
Both the Sensex and Nifty closed the week down nearly 5% each. Midcap index was down by 5% with the small cap index being down by 5.4% for the week.
Internal infaltion numbers at 8.24% for the week ended 24 May, marginally higher than the previous week’s figure of 8.12% dampen the market’s sentiments. Most economists expect the inflation numbers to cross 9% over the next three weeks with June 5’s rise in petrol and diesel prices. The Finance Minister too indicated that India the RBI may move to further squeeze liquidity from the system.
Among other sectoral indicies, Realty index closed the week down by 11% with metal goods and capital index too closing the week at 8% each.
Cairn India was among the top mover on the Sensex with over 8.45% gains. Mahindra & Mahindra (3.46%) Suzlon (4.3%) and Voltas (7.9%) were among the other gainers. Scrips that lost were Wipro (down 4.43%), ITC (4.14%) Neyveli Lignite (7.6%) and HPCL (5.92%).