Mumbai: The curtailed trading week saw the Sensex falling below the psychological 28k-level amid intense volatility, losing 387.54 points, while the broader Nifty going below the key 8,600-level.
The heavily curtailed three session trading week saw the market opening on lacklustre note as sentiment bridled due to holidays and government release of key economic data like IIP, CPI and WPI and keenly watched corporate results, while the key indices started positive and traded choppy later part of week.
The stock Exchanges remained closed on Tuesday and Wednesday for "Dussehra" and "Moharrum" during the week.
The initial positiveness shortlived and the index suffered sharp losses during second session trade due to intense volatility and selling pressure impacted by poor Chinese trade data and US rate hike fears as well as subdued August domestic Industrial production (IIP) data.
However, easing September 4.31 per cent CPI and 3.57 WPI inflation along with mixed start of quarterly results somehow failed to cheer the investors sentiment due to weak revenue guidance outlook from IT bellwether Infosys, however, the index did consolidate with minor gains during weekend trade despite incurring weekly losses.
The BSE benchmark Sensex resumed higher at 28,144.28 and hovered between 28,216.64 and 27,548.18 before ending the week at 27,673.60, showing a loss of 387.54 points or 1.38 per cent. The NSE Nifty also dropped by 114.20 points or 1.31 per cent to end the week at 8,583.40.
Selling was led by Realty, Bankex, Power, Auto, Metal, FMCG followed by secondline shares of midcap and smallcap companies. Buying interest was witnessed in Oil&Gas, IT, Power and Capital Goods sectors.
