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Auto sales numbers were disappointing for another month as demand was subdued. On the other hand, market participants turned cautious after the Reserve Bank of India (RBI) slashed the GDP forecast for FY20 and kept the interest rates constant. Meanwhile, oil producing countries resolved to cut production to support crude oil prices.
BSE barometer Sensex lost 348.66 points or 0.85 per cent to 40,445 for the week ended December 6. Banking stocks in the index saw some of the biggest movement the week, as RBI decided to keep its policy rates unchanged.
The biggest losers in the 30-share pack were YES Bank (down 18 per cent), SBI (6.96 per cent) and
NSE Nifty index, which snapped its two-week gaining streak, settled 134.55 points down at 11,921.50. YES Bank was, that saw a Moody’s downgrade during the week, was the biggest loser on the index, shedding 18.59 per cent. Royal Enfield maker
Kotak Mahindra Bank, TCS and Infosys were top gainers on this index as well, with similar gains as on BSE.
Broader market indices too ended the week in losses largely due to deep cuts on Friday. The BSE Midcap closed 1.26 per cent down at 14,667. BSE Smallcap slipped 0.86 per cent to 13,339.4.
Biggest gainers from mid and small cap indices were JP Power that gained 37.07 per cent to Rs 1.58 while JP Infra added 32.14 per cent at Rs 1.85.
Among the biggest losers from these two indices were Thomas Cook (down 59.84 per cent), Adhunik Industries (48.71 per cent) and Seya Industries (down 22.54 per cent).
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