Markets started the week with a hike as both the key indices, Sensex and Nifty, reached new intra-day peaks on Monday influenced by BJP's victory in Assembly polls but later result to down fall and ended in the red.
The Sen sex opened at 21,416.67 and rose to peak of 21,483.74 after the BJP's poll win in three states .
Afterwards, the 30-share index begain falling for the next four days. The BSE index lost 280.95 points, or 1.34 per cent, over the last weekend's close to 20,715.58. On Monday different index had sudden increase and closing high at 21,326.42.
The situation became worse further on Friday after weak factory output data and rise in retail inflation result in the fears that RBI may hike key interest rates .
The Sensex had gained 779.14 points, or 3.85 per cent, in the previous two weeks.
Fall in the rupee result in two-week closing low of 62.12 against the dollar on Friday also weighed on the market. The market reacted negatively to comments on inflation from RBI Governor Raghuram Rajan as it triggered speculation that he will raise the lending rate next week.
No comments:
Post a Comment