Mumbai: Lingering uncertainty pulled down the equities, snapping the four-week gaining spree to plunge nearly 3 per cent as the benchmark Sensex fell below the psychological 27,000 and the broader Nifty finishing below the key 8,100 level.
Bearishness swamped the market momentum as it tagged continuous selling for the whole of five-trading sessions of the week, bridled by US rate hike fears amid its two day meet and subsequent possibility of interest rate hike while tabling it on December meeting.
Despite good opening at the global-level during the start of week on account of China’s fresh rate cut, the domestic market gains could not be sustained due to lacklustre corporate earnings number which singled the investors mind to sell or preferred to remain in the sidelines.
The market also failed to garner any enthusiasm for the weeks beginning of new F&O series.
The Sensex resumed higher at 27,575.04 and hovered in a range of 27,618.14 and 26,585.20 before closing at 26,656.83, showing a loss of 813.98 points or 2.96 per cent.
The Sensex had gained by 1,607.51 points or 6.21 per cent in the previous four weeks. The CNX 50-share Nifty also dropped by 229.65 points or 2.77 per cent to 8,065.80. The CNX Nifty had gained by 426.95 points of 5.43 per cent in the previous four weeks.
