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Weekly Review: Sensex tumbles 350 points; Nifty drops below 10,000-level

Weekly Review: Sensex tumbles 350 points; Nifty drops below 10,000-level

Mumbai: The benchmark Sensex registered sizable fall for the week, lossing 350.17 points to close 31,922.44, while the broader Nifty too dropped below the psychological 10,000 level at 9,964.40 fresh geopolitical tension in Korean peninsula.

The key indices started the week on bullish note with Nifty hitting historic highs lifted by increased liquidity support and expectation of two-day US Fed policy meet would deliver status-quo in rate hike.

It was short-lived as market sentiment bridled by lingering concerns of stock valuation gained leverage, while the US Fed decision to wind down the stimulus and signalling rate hike this year led to FII liquidity concerns and rupee reacting with a tumble.

Mumbai: The benchmark Sensex registered sizable fall for the week, lossing 350.17 points to close 31,922.44, while the broader Nifty too dropped below the psychological 10,000 level at 9,964.40 fresh geopolitical tension in Korean peninsula.

The key indices started the week on bullish note with Nifty hitting historic highs lifted by increased liquidity support and expectation of two-day US Fed policy meet would deliver status-quo in rate hike.

It was short-lived as market sentiment bridled by lingering concerns of stock valuation gained leverage, while the US Fed decision to wind down the stimulus and signalling rate hike this year led to FII liquidity concerns and rupee reacting with a tumble.

PTI