Stock: Indian market came back from the brink on global feel-good factors and improving domestic macros as it covered up losses from Black Monday, thus winding up a turbulent and intensely volatile week.
The massive sell-off dealt a severe blow to both the key indices -- the BSE Sensex and NSE Nifty lost 973.69 points and 298 points to close at 26,392.38 and 8,001.95, respectively, extending their losses for the third successive week.
In the bloodbath, the benchmark Sensex crashed over 1,625 points while 50-share NSE Nifty plunged 490.95 points -- their biggest single-day fall -- as trading started the week on a nervous footing after a Chinese stock meltdown sent shockwaves through financial markets of the world.
The ripple effect spread to other emerging market currencies and commodities as well.
Although the market took a breather by bouncing back a day after the big Monday blow, it fell once again on Wednesday.
Gains in the last two sessions of the week following a global recovery saved the Indian market from further damage.
