For second consecutive week,the benchmark crashed and fall in all sectors or in every field.the Nifty shed more than 422 points (6.7%) in two weeks to settle below 5900 and the Sensex dropped over 1419.5 points (6.76%).
Vibhav Kapoor of IL&FS said the market works for corrections about 5,700 or 5,750 and hence “Probably we are in a sort of a corrective phase at this point of time, which is largely due to the fact that we had run up so much over the last two-three months and we have had a pretty good year, both in terms of the market moving up by 20%, as well as the strong FII interest that we have seen to the extent of USD 25-26 billion.”
Financials gave their statement to the BSE Bankex fell 2% and other companies are as follows–SBI lost 2.4%; Kotak Mahindra Bank was down 4.3%,Axis Bank down 3%,ICICI Bank, HDFC Bank, PNB and IDFC were down 1.3-1.8%. HDFC slipped 0.7%. DLF from realty pack dropped 3.4%; the BSE Realty Index tumbled 3.8%.
The BSE Sensex of 30 share closed at 19,585.44, down 345.20 points or 1.73% and the 50-share NSE Nifty dropped 108.50 points or 1.81% to settle at 5,890.30.
