Mumbai: Bloodbath continued in the markets on Friday and the Sensex plunged over 500 points, capping off trading for the week close to the 19000 mark.
Over the week, the BSE benchmark index slipped over 1800 points or 9 per cent on the back of concerns over the slowdown in the US economy, which is affecting equity markets all over the world. In fact, Planning Commission Deputy Chairman Montek Singh Ahluwalia now says the country's growth may slip by 0.5 per cent because of the US slowdown.
On Friday, the Sensex closed with a loss of 687 points, recovering a bit from the day's lows just above the 19000 mark at 19013. The Nifty too succumbed to the same weakness and cracked by 207 points to close at 5705.
The weakness was across the board with smallcap and midacp falling prey and closing with huge losses. It's been a gruesome week, which saw the markets closing in the red throughout the week. The Nifty lost 8 per cent during the week.
It was yet another a tough and disappointing day after the markets opened with a deep cut on the back of weak cues from the global markets and proceeded to trade on a weak note amid volatility for most part of the day. There was bloodbath on the Dalal Street in late trade and the markets ended in deep red.
Realty, oil and gas, banking, metal and capital goods counter were the worst hit in Friday's trade and the midcap, too, was badly hit. The advance-decline rartio worsened in the late trade and it was 1:10 on NSE.
The markets faced relentless fall on the back of heavy selling pressure across the sector. The weak global cues has further added to the negative sentiment prevailing in the markets. Europe was trading weak since its opening.
About 416 shares advanced during the day while 2535 shares declined and 30 shares remaned unchanged on BSE. The BSE MIdcap was down 4.78 per cent at 8893.71 and the smallcap was down 4.55 per cent at 12160.45.
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