Corona’s havoc on the business of the country’s stock market this week has been a shadow of it. At the same time, the impact of the US bond market also showed its impact on the domestic market, due to which the Sensex closed below 50,000 under heavy selling pressure and the Nifty also recorded a fall of nearly two per cent. Midcap and Smallcap indices declined more. Although the last session of the week returned strongly, but the trend of growth continued from the last two weeks and the major sensory indices closed with a fall at the weekly level.
The Bombay Stock Exchange (BSE) Sensex, based on 30 stocks, closed at 49,858.25, down 933.84 points, or 1.84 per cent, from the previous week on Friday. On the other hand, the National Stock Exchange (NSE) Nifty, a sensitive index based on 50 stocks, slipped 286.95 points, or 1.91 per cent, to 14,744 against the previous week’s closing.
Midcap index falls drastically
The BSE Midcap index closed at 20,026.78, a massive drop of 550.43 points, or 2.67 per cent, at the weekly level, while the Smallcap index fell 715.18 points, or 3.37 per cent, to close at 20,493.89. The week started with a downward trend Monday when the Sensex lost 397 points, or 0.78 per cent, to close at 50,395.08 from the previous session and the Nifty also declined by 101.45 points, or 0.67 per cent, to 14,929.50.
A phase of lethargy on Tuesday as well
On the next day, the sluggishness continued for the third consecutive session on Tuesday, although the Sensex closed down by just 31.12 points or 0.06 per cent to 50,363.96 from the previous session, while the Nifty closed down 19.05 points or 0.13 per cent at 14,910.45.
Heavy pressure on backing
On Wednesday, under the heavy selling pressure in the stocks of banking and financial sectors, the country’s stock market was in a shambles. Sensex slipped below 50,000. The Sensex lost 562.34 points, or 1.12 per cent, to close at 49,801.62 from the previous session, while the Nifty lost 189.15 points, or 1.27 per cent, to close at 14,721.30.
Heavy down on thursday
The country’s stock market closed with a heavy fall for the fifth consecutive session on Thursday when the Sensex fell 585.10 points, or 1.17 per cent, to 49,216.52 from the previous session. During the trading, the Sensex slipped below the psychological level of 49,000. At the same time, the Nifty closed at 14,557.85, a decline of 163.45 points or 1.11 per cent from the previous session.
Costers fall in 5 trading sessions
However, the trend of declining for five consecutive sessions came to a halt on Friday and on the back of strong buying, the Sensex gained 641.72 points, or 1.30 per cent, to close at 49,858.24 from the previous session, while the Nifty gained 186.15 points or 1.28 per cent from the previous session. Closed at 14,744. However, both the major sensory indices closed down nearly two per cent over the previous week. Let us know that before this, during the two consecutive weeks, the domestic stock market had registered an increase on a weekly level.