Weekly Market Summary

After a ranged week the market closed on a disappointing note despite good global cues. Through the week the market saw flat and cautious trading. This week's performance was average and the numbers are: Sensex down 2.8% and Nifty down 2.7%. CNX Midcap index was up 0.76%, while BSE Smallcap index was down 2.8% over the week. BSE Realty index down 2.6%, BSE Consumer Durables index up 5.4%, BSE Metal index up 1.8%, BSE IT index down 7.4% and BSE Auto index down 2.4%.

It was a sticky trading day for the Indian market because of intense selling pressure towards the latter part of the day. Firm global cues and good Q2 results from Infosys did not have much of a positive effect on the market. Sensex shut shop at 16642, down 200 points and Nifty at 4945, down 57 points from the previous close. CNX Midcap index was down 0.4% and BSE Smallcapindex was down 0.7%. The market breadth was negative with advances at 383 against declines of 886 on the NSE. Top Nifty gainers included Bharti Airtel, RCom and ONGCwhile losers included Tata Motors, Ranbaxy and PNB.