A morning walk down Dalal Street: Geopolitical turmoil drags Nifty, 11,635 crucial
Episode 1347, Jun 24, 2019, 01:30 AM
The last week was a volatile one for the Indian market. Nifty, after reclaiming 11,800, failed to keep the momentum going as geopolitical concerns spoiled the party for bulls.
The index closed 0.84 percent lower while the S&P BSE Sensex ended 0.65 percent down for the week ended June 21.
In the broader market space, BSE Midcap index fell 0.65 percent while the BSE Smallcap index saw a decline of 1.96 percent in five sessions.
The carnage was seen in the broader market space. Data for BSE 500 index suggest that as many as 23 stocks fell 10-30 percent in just five sessions including Jain Irrigation, Graphite India, Reliance Communications, SpiceJet, Dilip Buildcon and Birla Corp. among others.
The market remained volatile throughout the week amid dovish commentary from US Federal Reserve as well as European Central Bank (ECB). However, trade war concerns, RBI minutes of the meeting that fuelled growth worries, rise in crude oil prices, delay in monsoon and a fall in foreign investor flows capped the upside.