Weekly round up: Market snaps two week gains, falls 232 pts

  • PTI, Mumbai
  • Updated: Apr 30, 2016 16:16 IST

The market snapped its two week gaining streak, falling 231.52 points to 25,606.62 in a volatile trading sessions swayed by global and domestic factors.

The monthly derivative expiry week also riddled by domestic earning results, US Fed and Bank of Japan meetings impacting the sentiments.

Caution also set due to Parliaments’s Budget session got underway during the week with concerns over the key Goods and Service Tax (GST) bill for the passage in parliament.

Although the key indices retook the crucial 26K-level on recovery in global stocks amid crude rebound and solid domestic Q4 numbers in select blue-chips for two sessions, it was squeezed by Bank of Japan’s decision to cease from fresh stimulus by keeping interest rates unchanged and somewhat hawkish US Fed indicating higher chances of rate hike in June depressing global stocks pulling-down the domestic indices.

The Sensex resumed higher at 25,891.03 and surged to 6-month high of 26,100.54 and low of 25,424.03 before closing the week at 25,606.62, showing a loss of 231.52 points or 0.90%.

It has gained by 1,164.30 points of 4.72% in previous two weeks.

The NSE 50-share Nifty also fell by 49.50 points or 0.63% to close the week at 7,849.80 after touching a high of 7,992.00 during the week.

The Nifty also had gained 344.10 points or 4.55% in previous two weeks.

Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth whopping Rs 1,281.43 crore during the week as per Sebi’s record including the provisional figure of April 29.


The rupee extended its gain against the American currency for the second consecutive week, moving up by another 15 paise to end at 66.33 per dollar on persistent selling of dollars by banks and exporters in view of weaker greenback overseas in spite of month-end dollar demand from importers.

Persistent foreign capital inflows also boosted the rupee value against the dollar to some extent, a forex dealer said.

The rupee resumed lower at 66.65 per dollar as against the last weekend’s level of 66.48 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to 66.8475 per dollar on month-end dollar demand from importers, mainly oil refiners.

However, it recovered to 66.28 per dollar on selling of dollars by banks and exporters on the back of lower dollar in the overseas market before ending at 66.33 per dollar, showing a gain of 15 paise or 0.23 %.

The domestic currency has gained by 31 paise or 0.47 % in two weeks.

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