Another weekly loss for equity markets; down by nearly 8 per cent

Indian equity benchmark indices gained after losing for four consecutive trading sessions to end Friday’s session with handsome gains of nearly six per cent, on the back of sustained buying across sectors. Looking at the indices on the weekly basis, BSE Sensex fall nearly eight per cent, small-cap index fall by 10 per cent and mid-cap index fell by 8.94 per cent.

Looking at the weekly data of BSE sensex, out of 30, only four companies has delivered positive return on weekly basis. Yes bank has won the race by gaining 79.65 per cent whereas; PNGC also reacted surprisingly and gained 9.94 per cent. ITC and Hindustan Uniliver gained 8.20 per cent and 0.95, respectively this week. Talking about the losers, the top loser is IndusInd Bank with a sharp decline of 45.28 per cent. Tata Motors DVR, Bajaj Finance and Mahindra & Mahindra have also joined the race, with a sharp decline of 31.11 per cent, 25.10 per cent and 24.71 per cent, respectively in this week.

The markets traded with a high level volatility, majorly due to the uncertainty after large scale shutdowns globally. As per the latest data, the virus has already spread to more than 155 countries and creating shutdowns here. The impact would be seen in cuts in the economic growth rates of FY21.