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Sensex drops over 1400 pts over the week

July 10, 2009

INDIA-BUDGET/After the stock market’s thumbs down to the budget on Monday, the weakness continued all week with the Sensex registering a drop of over 1400 points in five sessions.

On Friday the benchmark closed 253 points lower at 13,504 on worries over the monsoon and global economy.

Reliance Industries led the fall, dropping nearly 4 percent, whereas losses in HDFC, SBI and L&T also pushed the benchmark lower.

Infosys shares gained nearly 3 percent after it declared better than expected Q1 numbers.

Gains in Infosys helped the BSE Info Tech index gain over 2 percent, but all other sectors closed in the red.

The oil & gas index was the worst hit, with losses of 3.2 percent. Indices for power, capital goods and  realty shed over 2 percent each.

It has been a bad week for the stock market with the Sensex posting its worst weekly drop in 2009. Do you think the uncertainties will continue, pulling the market further down?

Comments

1400 points is a big fall in one week.. i think the sensex would kiss around 12,500 before starting for its journey to 20,000!

Posted by Ram | Report as abusive
 

Sensex has slipped over 1,4000 points since presentation of budget on 6 July.

It is now expected that a rebound will take place from this level but all this is transient.Investors beware and do not get entrapped in a relief rally!

Posted by A.Kapoor | Report as abusive
 

My comments above..pl read fall in sensex as 1,400 points.Apologies for error.

Posted by A.Kapoor | Report as abusive
 

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