Mumbai: Global headwinds and downbeat data swayed the market momentum in a range-bound session this week as BSE benchmark Sensex ended almost flat by easing 9.84 points to close at 26,625.91, while the broader Nifty closed a tad higher 0.15 points to 8,170.20.
Intense volatility witnessed during the week as the stock momentum was restrained by the weak global trend due to anxiety on upcoming Brexit referendum to decide its stay or exit from the European Union.
The market was also strained as the US Fed lowered global growth forecast and Bank of Japan refrained from adding more stimulus in its policy review. Vulnerability further aggravated by country's disappointing macro-data of contracting industrial output, retail inflation surging to 21-month high and hardening wholesale inflation let-down the investors sentiment.
Equities marked gains during middle and fag-end session on hectic shortcovering and value buying as sentiments lifted by string of key Cabinet policy decisions, approval of prime lender SBI's merger with five associate banks and announcement of new Aviation policy.
Also, confirmation of support from most states for approval of Goods and Service Tax (GST) in upcoming monsoon session, narrowing current account deficit (CAD) for the current year and easing Brexit fears buoyed the investors sentiment.
The BSE Sensex opened lower at 26,468.27 and hovered between a high of 26,752.59 and a low of 26,262.27 before ending the week at 26,625.91, showing a marginal loss of 9.84 points or 0.04 per cent. The NSE Nifty-50 also closed flat at 0.15 points down to close the week at 8,170.20. Selling was led by Banks, Healthcare, Auto, Capital Goods counters.
While buying was seen in Realty, PSUs, FMCG, Metal, Power, Consumer Durable, IT, Oil&Gas and Teck sectors. Secondline shares of smallcap witnessed good buying interest, while midcap shares ended with losses.
