After consistent upmove over the last three weeks, domestic equities plunged to 19-month lows during the intra-week trade, before the benchmark Sensex and Nifty regained some lost ground to end at 24,934.33 and 7,601.35, respectively.
Indian stock markets joined the global bandwagon fall after China twice suspended trading set-off by 7 per cent slide in CSI 300 index triggering circuit breaker, while, a hydrogen bomb test in North Korea sparked fresh geopolitical tension in Korean Peninsula also weighed on the sentiment.
The Chinese central bank allowing yuan's depreciation, which weakened 0.6 per cent against US dollar also spooked the investors further escalated global rout.
The Sensex resumed higher at 26,116.52 and traded between a high of 26,116.52 and low 24,825.70 before ending the week at 24,934.33, showing dip of 1,226.57 points or 4.69 per cent.
The 30-share gauge had gained 1,116.47 points, or 4.46 per cent, in the previous three weeks.
The NSE 50-share Nifty also slumped by 361.85 points or 4.54 per cent to end at 7,601.35.
Banking shares were drubbed the most during the week losing 10.69 per cent, followed by Auto 6.99 per cent, Capital Goods 6.89 per cent, Metal 4.33 per cent, HealthCare by 3.94 per cent.
Foreign portfolio investors (FPIs) sold shares net
Rs 3,114.56 crore during the week as per the Sebi's record including the provisional figure of Jan 8, 2016.
Among the 30-share Sensex pack, 28 stocks declined and two stocks rose during the week.
Major losers from the Sensex pack were Tata Motors (12.00 pct), Bhel (10.12 pct), Adani ports (9.70 pct), Maruti (9.05 pct), L&T (8.44 pct), SBI (8.21 pct), Axix Bank (7.99 pct), Lupin (7.20 pct), Hero Motoco (7.18 pct) and ICICI Bank (6.86 pct), while, Gail rose by 0.91 pct followed by Reliance 0.86 pct.
Among the S&P BSP sector and industry indices, Bankex fell by 10.69 pct followed by auto 6.99 pct, capital goods 6.89 pct, metal 4.33 pct, healthcare 3.94 pct, realty 3.78 pct, FMCG 3.74 pct, Tech 2.86 pct, Power 2.42 pct, IT 2.23 pct and oil and gas 0.29 pct.
Small-cap and mid-cap indices also declined by 2.42 pct and 2.25 pct, respectively.
The total turnover during the week on the BSE and NSE rose further to Rs 18,182.70 crore and Rs 89,534.28 crore respectively as against the last weekend's level of Rs 13,281.81 crore and Rs 75,637.
Forex: In line with equity market, the Indian rupee
snapped 3-week gaining spree, ending lower by 49 paise to close the week at 66.63 against the American currency on fresh dollar demand from banks and importers on the back of higher dollar in the overseas amid foreign capital outflows.
Foreign portfolio investors (FPIs) pumped out USD 281.45 millions during the first four days of the week as per Sebi record.
The domestic currency resumed lower at 66.25 per dollar as against the last weekend's level of 66.14 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to 66.97 per dollar on heavy dollar demand from banks in view of sharp fall in global and domestic equity markets.
However, it recovered partially at the fag-end of the week to 66.64 per dollar before concluding at 66.63 per dollar, still showing a loss 49 paise or 0.74 per cent.
The domestic currency had gained by 74 paise or 1.11 per per cent in the previous three weeks.
The rupee moved in a range of 66.25 per dollar and 66.97 per dollar during the week.
In a surprise move, China's central bank lowered the yuan's value against the US dollar, sending the domestic stock markets tumbling during the week.
However, most Asian bourses rebounded on Friday from their deep oversold territory led by heavily battered Chinese stocks after authorities scrapped the circuit breaker system even as China's central bank allowed its currency yuan to strengthen for the first time in nine days.
The US dollar regained strength against major currencies at the fag-end of the week after a brief correction ahead of this year's first non-farm payroll data.
In the forward market, premium for dollars fell on good
receivings from exporters.
The Benchmark six-month forward dollar premium payable in June fell to 195-197 paise from preceding weekend's level of 202-204 paise and far-forward contracts maturing in December also dropped to 406-408 paise from 411-413 paise.
The RBI fixed the reference rate for the USD at 66.6690 and the euro at 72.5292 from last weekend's level of 66.1780 and 71.8627, respectively.
In cross-currency trade, rupee rose against the pound sterling to 97.40 from 97.54 from last weekend level while moved down to 72.46 per euro from 71.81 per euro previously.
The domestic unit also fell against the Japanese currency to end at 56.34 per 100 yen from preceding weekend's level of 54.98.
Oils and Oilseeds: Barring linseed oil, edible and
non-edibles oil declined at the Vashi oils and oilseeds wholesale market during the week under review.
Groundnut oil slipped due to reduced demand from stockists and retailers amidst ample arrivals from producing belts.
Refined palmolein softened owing to absence of retail buying support.
Castorseeds bold and castoroil commercial both weakened further owing to subdued demand from shippers and soap industries, extending its fall for the fourth straight week.
Elsewhere, Linseed oil recovered due to renewed offtake from paint and allied industries.
Turning to edible oils segment, groundnut oil resumed stable at Rs 975, later drifted to settle at Rs 940 compared to last Saturday's closing level of Rs 975, showing a fall of Rs 35 per 10kg.
Refined palmolein opened lower at Rs 455 and later eased to close at Rs 457 as against Rs 458 previously, a fall of a Re per 10kg.
Moving to non-edible section, castorseeds bold commenced higher at Rs 3,700 and later moved down to settle at Rs 3,650 from last weekend level of Rs 3,690, revealing a loss of Rs 40 per 100kg.
Castoroil commercial also started higher at Rs 770 and later went down to close at 760 from Rs 768 previously, showing a fall of Rs 8 per 10kg.
Linseed oil opened higher and settle at the same level of Rs 880 as compared to its previous weekend's level of Rs 870, revealing a rise of Rs 10 per 10kg.
Bullion: Gold stole the limelight once again after a brief
setback during the week on frantic investment buying even as stockists and retailers ramped up demand.
Highly buoyant overseas sentiment in the aftermath of China's series of currency devaluation and subsequent sell-off in financial markets worldwide predominantly supported the recovery in the precious metals.
Depreciating rupee value in the midst of escalating currency war in the Asian region, further aided the sentiment.
The yellow-metal finished the week at a two-month high of Rs 25,845 - the level not seen since November 6, 2015.
Jewellery traders seized the opportunity to restock gold in anticipation that the demand will improve considerably in view of upcoming festive and wedding activities against the backdrop of global economic and political headwinds, a bullion dealer commented.
Elsewhere, silver also rebounded sharply to close above the significant Rs 34,000 mark due to heavy speculative buying coupled with higher industrial demand.
On the global front, the shiny metal rallied boosted by safe haven buying on concerns over China's economy and geopolitical woes.
It briefly reclaimed the psychologically important USD 1,100-mark before falling back amid a stronger dollar and robust jobs data.
In New York Comex trade, gold for June contract rose to close at USD 1,243.80 an ounce as compared to last weekend's finish of USD 1,223.50, while May silver delivery eased further to settle at USD 15.384 an ounce from USD 15.046.
On the domestic front, standard gold (99.5 purity) resumed sharply lower at Rs 28,130, though it immediately bounced back to hit a fresh high of Rs 28,770 before ending at Rs 28,735 as compared to preceding weekend level of Rs 28,345, showing a smart rise of Rs 390 per 10 grams, or 1.38 per cent.
Similarly, pure gold (99.9 purity) also commenced weak at Rs 28,280, but soon rebounded to touch a high of Rs 28,920 before concluding at Rs 28,885 from last Friday's closing value of Rs 28,495, revealing a solid gain of Rs 390 per 10 grams, or 1.37 per cent.
Silver ready (.999 fineness) resumed with a gap-down at Rs 36,110 and fluctuated between a high of Rs 36,700 and a low of Rs 35,970 before closing at Rs 36,620, showing a loss of Rs 310 per kilo, or 0.84 per cent.
