The stock market ended on a slightly negative note during the current truncated week as Ramzan holiday fell on Monday. Trading during the week was characterised by alternate days of buying and selling in the absence of a clear direction.
It was a historical week for the Nifty. On September 22, the index closed above the 5,000-mark (at 5020.20) for the first time in the past 16 months as market sentiment became buoyant on the back of a rise in collections of advance corporation and personal income tax.
The Sensex also came very close to the 17,000-mark, hitting an intra-week high of 16,943.49 on September 22, but snapped its 5-day rally the very next day. The weak US and Asian markets and an impending derivatives settlement led to profit booking on September 23 and 24.
