By IANS,
Mumbai: A benchmark index for Indian equities markets fell sharply during the week as traders worried over weak industrial output and failure by the G20 Summit to act against currency volatility.
The Bombay Stock Exchange’s 30-share sensitive index (Sensex) fell a whopping 848.07 points or 4.04 percent to end the week at 20,156.89 points.
At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty also lost in equal measure, ending the week at 240.80 points or 3.81 percent at 6,071.65 points.
Broader markets closed in the red, with the BSE midcap index closing 2.84 percent lower while the BSE smallcap index fell 1.14 percent.
Foreign funds, however, continued with their persistent buying in the equities and bond markets with overseas inflows touching $1.93 billion during the week ending Friday, according to data available with the Securities and Exchange Board of India (SEBI).
For the month, funds from foreign institutional investors stood at $28.68 billion.
Top losers included the State Bank of India (SBI), down 12.3 percent at Rs.3,030.40; DLF, down 8.5 percent at Rs.327.55; Reliance Com, down 7.1 percent at Rs.169.95 and Bharti Airtel, down 7 percent at Rs.306.05.
There were no major gainers on the Sensex on a weekly basis.
Most Asian stock markets declined after reports that China’s central bank would go in for another round of monetary tightening to ease the build up of an asset bubble.
The Chinese Shanghai Composite index shed 4.6 percent at 2,985.43 points, while Hong Kong’s Hang Seng closed 2.63 percent down at 24,222.58 points.
However, the Japanese Nikkei gained 1.03 percent to close at 9,724.81 points.
European stocks posted their biggest weekly fall in six weeks amid renewed concerns over the ability of some countries in the region to manage their sovereign debt.
FTSE 100 closed 1.34 percent lower at 5,796.87 points while the German DAX fell 0.29 percent at 6,734.61 points. The French CAC 40 moved down 2.19 percent at 3,831.12 points.
The Asian sell off hit US markets as well with an expected rate hike by China looming large on investor minds.
The Dow Jones Industrial average fell 2.2 percent to close at 11,192.58 points, while the S&P 500 lost 2.17 percent at 1,199.21 points.
The Nasdaq Composite slipped 2.36 percent to 2,518.21 points.