Markets end flat in volatile trading
The 30-scrip sensitive index Sensex of the Bombay Stock Exchange ended the week at 16,866.97 points, up 0.27% or 45.51 points from the previous week's close at 16,821.46 points.business Updated: Sep 10, 2011 15:07 IST
Benchmark indices for Indian markets ended this week with marginal gains in volatile sessions on uncertain global cues.
The 30-scrip sensitive index Sensex of the Bombay Stock Exchange ended the week at 16,866.97 points, up 0.27% or 45.51 points from the previous week's close at 16,821.46 points.
The markets commenced the week on an upbeat note and the benchmark Sensex regained 17,000 points mark on Wednesday and touched a high of 17,209 points mid-week.
However, snapping a three-day rally, the Sensex plunged almost 300 points on Friday, erasing most the weekly gains.
The 30-scrip index closed 298.57 points or 1.74% down at 16,866.97 points on Friday, the last trading day of the week.
Indian bourses slumped on Friday on profit booking amid negative cues from other global markets.
At the National Stock Exchange, the 50-scrip S&P CNX Nifty also slumped on Friday after rallying mid-week. The Nifty closed 1.82% lower at 5,059.45 points. The 50-scrip Nifty registered a gain of 0.4% in the weekly trade.
On the last trading day of the week, major Sensex gainers were: Hindustan Unilever, up 2.52% at Rs.333.25; Hero MotoCorp, up 2.05% at Rs.2,215.10; ONGC, up 0.34% at Rs.261.85 and HDFC, up 0.23% at Rs.660.
SBI, down 3.68% at Rs.1,954.90; RIL, down 3.33% at Rs.825.10; Tata Motors, down 3.21% at Rs.763.60; and Infosys, down 2.88% at Rs.2,271.20, were major losers of the 30-scrip index Friday.
Other Asian markets closed lower in choppy trade amid growing concerns of the state of the global economy. Investors were worried after Christine Lagarde, managing director of the International Monetary Fund, said that downside risks to growth had increased across the world.
Japan's Nikkei ended 0.63% down at 8,737.66 points on Friday.
Hong Kong's Hang Seng index closed 0.23% lower at 19,866.63 points and China's Shanghai Composite index ended flat at 2,497.75 points Friday.
European and American markets slumped on Friday after Federal Reserve chairman Ben Bernanke offered no details on measures to revive the economy in a speech delivered on Thursday.
Britain's FTSE 100 fell 2.35% at 5,214.65 points, German DAX slumped 4.04% at 5,189.93 points and French CAC 40 closed 3.60% down at 2,974.59 points on Friday.
Dow Jones Industrial Average of the US fell 2.69% at 10,992.10 points and S&P 500 Index dropped 2.67% at 1,154.23 points.