Equity markets extended their losing streak for third consecutive week following a spike in crude oil prices triggered by Middle East tensions and selling from FIIs.
Markets recorded biggest weekly fall in 2015 due to the fears of higher retail inflation forcing RBI go slow on expected interest rate cut.
Perked by RBI rate cut and lack of negatives in the Union Budget, markets logged gains for fourth week in a row. The Sensex and the Nifty closed higher with modest gains at 29,449 and 8,938.
Shrugging away the Delhi elections outcome and taking comfort in the FM’s statement that India’s economy is poised to take off at a much faster pace and allaying fears regarding any slowdown in reform
Markets continued to be choppy and volatile during the week ended.
Spooked by global cues, weakness in currency and concerns over revival in economy, markets witnessed worst weekly performance in three years.
It was yet another record breaking week for Indian markets.